Shares of Twitter Inc (TWTR) surged out of the gate today before falling sharply back. The candle formation on the chart is an obvious topping tail. Topping tails are very bearish as it signals institutional selling pressure. Considering Twitter has earnings Tuesday after the markets close, this could be signaling a miss, or at least a stock sell-off. If Twitter falls sharply on earnings, investors should expect support to come in around $45.00, then $40.00. Twitter has been blasted by politicians for its handling of former President Donald Trump and their handling of other Twitter users. In addition, regulation could likely be coming in the near future. Considering the valuation of Twitter, investors should tread likely with the formation of the topping tail. This is a Twitter earnings alert.
(Click on image to enlarge)
Comments
Log in or sign up to join the conversation.