Since TWTR gapped down pretty aggressively on earnings, its gone right back to where X marks the spot, I have a fib confluence that is a little lower, around where the green line is. On this chart, I have a couple of options laid out, I'm not pretending like I KNOW one of them will be the correct one, Im just putting out a couple of options for what could happen.
1) Price will inch down lower to the green line and price may hang around for a few days before things cool off and the bulls come back in. (green arrows)
2) Since we're now pretty far away from any moving averages and we have a large price void, we may have a whiplash type of move back up to the 55-56 area then get pushed back down a little by the MA's.
Either way, if TWTR goes into bit of a consolidation afterwards, I would watch out for accumulation.
Please leave questions, comments
Thank you
1) Price will inch down lower to the green line and price may hang around for a few days before things cool off and the bulls come back in. (green arrows)
2) Since we're now pretty far away from any moving averages and we have a large price void, we may have a whiplash type of move back up to the 55-56 area then get pushed back down a little by the MA's.
Either way, if TWTR goes into bit of a consolidation afterwards, I would watch out for accumulation.
Please leave questions, comments
Thank you