Wednesday, 2 April 2014

TWTR - the hysteria continues to slide

Whilst the main market broke new historic highs, the hysteria surrounded stock that is Twitter (TWTR) continued to weaken, settling -2.7% @ $45.70. The failure to hold the big $50 threshold remains a key bearish sign, with likely further downside to the $40/38 zone.

TWTR, daily


The hysteria of the Tweet company is indeed still on the slide. Considering we saw a late Dec' high of $74.73, the current price in the $45s is a decline of 40% across just over 3 months.

The only issue now is when TWTR will test the key low of $38.80 - Nov'25, 2013. A break under that would open up the IPO price of $26.

Frankly, considering the sickening media love affair with such 'new media' stocks, I find the whole situation very amusing.

Now... go tweet that!