Traders Beware!

Fraudulent websites posing to have a connection with JFD

Please be aware of fraudulent websites
posing as JFD's affiliates and/or counterparties

More information
by Darius Anucauskas

Twitter Stock Rebounds From its Upside Line

For almost two months (May and June), the Twitter Inc. stock (NYSE: TWTR) had been moving lower, trading below a short-term tentative downside resistance line taken from the high of May 3rd. But that move could have been seen just as a correction, because overall, the price continues to run above a medium-term upside support line drawn from the low of December 24th. On the last trading day of June, the stock managed to rebound from that line and travel back up. For now, we will stay neutral until we see a clear break through one of the above-mentioned lines, before we examine a further directional move.

If TWTR continues to move in the direction of its medium-term upside trendline and breaks above the downside line, this may raise interest among new investors, especially if the price climbs above the 37.60 level. That level is marked near the highs of June 12th and 18th, a break of which could open the door for a possible test of the 38.65 zone, which is the highest point of June. If investors are still holding onto the stock, it may continue drifting a bit higher, where it could meet the 39.30 barrier, marked by the high of May 22nd.

Judging the situation by our oscillators, the RSI and the MACD, both are somewhat in support of the upside scenario. The RSI had just popped above 50 and now points slightly higher. The MACD, although below zero, has just moved back above the trigger line and also points a bit higher.

On the downside, in order to start examining lower levels, we would need to wait for a drop below: the aforementioned upside support line, the 34.27 hurdle (the low of the last trading day of June) and the 200-day EMA. A break below all of them could signal to potential investors that the current ones could be liquidating some of their current exposure in TWTR. Then the share price could slide to the 32.70 hurdle, marked by the high of February 25th and the low of April 1st. Initially, that area could hold the stock from falling further, but if there are no takers of the stock around there, another drop may send the stock towards the 31.72 mark, which is the low of March 28th.

Twitter daily


The content we produce does not constitute investment advice or investment recommendation (should not be considered as such) and does not in any way constitute an invitation to acquire any financial instrument or product. The Group of Companies of JFD, its affiliates, agents, directors, officers or employees are not liable for any damages that may be caused by individual comments or statements by JFD analysts and assumes no liability with respect to the completeness and correctness of the content presented. The investor is solely responsible for the risk of his investment decisions. Accordingly, you should seek, if you consider appropriate, relevant independent professional advice on the investment considered. The analyses and comments presented do not include any consideration of your personal investment objectives, financial circumstances or needs. The content has not been prepared in accordance with the legal requirements for financial analyses and must therefore be viewed by the reader as marketing information. JFD prohibits the duplication or publication without explicit approval.

There are risks involved with trading of cash equities. Past performance is not indicative of future results. You should consider whether you can tolerate such losses before trading. Please read the full Risk Disclosure.

Copyright 2019 JFD Group Ltd.