Wednesday, December 16, 2020 1:59 PM EST
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)
Disclaimer: All comments made by InTheMoneyStocks, LLC and its subsidiaries, instructors, and representatives are for educational and informational purposes only and should not be construed as ...
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Disclaimer: All comments made by InTheMoneyStocks, LLC and its subsidiaries, instructors, and representatives are for educational and informational purposes only and should not be construed as investment advice regarding the purchase or sale of securities, or any other financial instrument of any kind. Please consult with your financial adviser before making an investment decision regarding any securities mentioned herein. InTheMoneyStocks, LLC and its representatives assume no responsibility for your trading and investment results. All information on the website was obtained from sources believed to be reliable., but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. InTheMoneyStocks, LLC, its employees, representatives and affiliated individuals may have a position or effect transactions in the securities herein and or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies. Trading of any type involves a very high degree of risk. Futures and Options trading are not suitable for all investors. Past results are not indicative of future results. InTheMoneyStocks, LLC, its subsidiaries and all affiliated individuals assume no responsibility for your trading and investment results.
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