Tuesday, 25 March 2014

TWTR - broken support, fading hysteria

Whilst the main market saw some moderate intraday swings, there was again some notable weakness in a few of the momo stocks. Twitter (TWTR), slipped a further -1.85% @ $47.87, the lowest level since Dec'9. With the key psy' support of $50 broken, near term outlook is most certainly bearish.

TWTR, daily


Suffice to say, a classic case of broken support..and the stock now looks destined for a test of the Nov'25th low of $38.80.