TWTR - hashtag hysteria

Whilst the broader market settled broadly higher, there was some rather extreme weakness in Twitter (TWTR), closing -13.5% @ $31.24. The psy' level of $30 looks set to be lost in the near term... with the IPO price of $26 a valid target by early October.


TWTR, daily

TWTR, weekly' 2yr

Summary

Little to add.

I won't go over the recent earnings report.

Suffice to add.. the market has increasingly little tolerance with this momo/hysteria stock.

Another wave lower is clearly underway.. and TWTR looks set to be trading in the 30/25 zone into year end.