Twitter shares (NYSE:TWTR) trended downwards in the
last few months of the year 2014. The price consolidated towards the end of
that year and has done that so far.
It can be seen that the price is now ranging between
the upper and lower Trendlines, while the RSI period 14 is above the level 50, suggesting
the possibility that the price may go higher from here. The current price
action is even bullish in the context of a consolidating market; and should the
price break upwards and close above the upper Trendline, it could be the
beginning of a long-term bullish movement.
There can be an overall bullish movement which would
take the price towards the distribution territory at 55.00 again – a high that
was seen last year.
This forecast is ended by the quote below:
“I learned that less is more when I believed that more is
better.” – Anne-Marie Baiynd
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Learn from the Generals of the Markets: Market Generals
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