Twitter Stock Trade Alert: Topping Tail Forms

By Gareth Soloway of In the Money Stocks

President & Chief Market Strategist at IntheMoneyStocks • Dec 16, 2020 at 1:59 PM EST

The stock reversed a substantial amount and now has a major technical topping tail on the daily chart. Topping tails are extreme bearish indicators that signal huge institutional distribution.

Twitter Inc (TWTR) surged this morning after it was upgraded by JPMorgan Chase (JPM). However, a Twitter stock trade alert on the short side has formed off the upgrade pop. The stock reversed a substantial amount and now has a major technical topping tail on the daily chart. Topping tails are extreme bearish indicators that signal huge institutional distribution. This likely signals a near-term top on Twitter. A near-term downside target will likely be $45.65 from the current $54.42 range.

Once the topping tail forms, stick with it until target. The only way it gets negated is if price any day above the topping tail high, currently at $56.11. Then exit the trade.

(Click on image to enlarge)

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