Twitter
stock (NYSE:TWTR) is not currently an attractive market. The market has not
been attractive for the past several months.
Price
action is simply a series of large upswings and downswings, with no real
protractedly directional movement.
4 EMAs are
used for this analysis and they are EMAs 10, 20, 50 and 200. The color that
stands for each EMA is shown at the top left part of the chart.
Each EMA
is basically flat, which means there is no long-term bias in the market.
However, it is noteworthy that price is currently above the EMA 200, which
signals that there is a great potential for price to continue moving upwards
this year.
However,
for Twitter to be in a real bullish position, it has to go above the resistance
level at 40.00, staying above it.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Trading realities: Trading realities
No comments:
Post a Comment