Twitter stock (NYSE:TWTR) has started coming down, especially this month. The new downtrend has followed a protracted bullish movement that the market has witnessed in the last several months.
From October 2020 to February 2021, bulls held sway. However, from the beginning of March, a new
bearish trend has ensued. Price has crossed the EMA 21 to the downside, as it
trends further downwards. The William’s % Range period 20 is already in the
oversold region and it would remain oversold for a long time.
There would be transient rally attempts but bears would remain winners overall.
The outlook for TWTR is clearly bearish for this year, since a clean “sell”
signal has already been generated. The support levels at 60.00, 55.00 and 50.00
would be tested and breached to the downside, at last.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Teach Yourself Technical Analysis: Teach Yourself Technical Analysis
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