TWTR - headed to $30

Whilst the main market closed moderately lower, there was significant weakness in Twitter (TWTR), settling -3.6% @ $34.60 (intra low 34.31), the lowest level since June 2014. Near/mid term outlook is bearish, next support is not until the $30 threshold. The all time low of $29.51 (May 7th' 2014) is now on the menu.


TWTR, daily

TWTR, weekly

Summary

*a move to the $30 threshold would be a drop of around -14% from current levels
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Suffice to say, the recent announcement that the CEO is leaving helped TWTR shares for a mere few hours.

The mainstream have little confidence in the company.. not least since it still can't turn a profit.
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If the main market falls under sp'2000 this summer (as seems likely.. if briefly), TWTR should continue lower to the psy' level of $30.

It really is a case of whether TWTR can find a CEO who has the guile to start pushing for chargeable site features - such as 'verified accounts', whether it is for individuals, celebs, or corporations.

Right now, I have serious doubts as to if the existing (FAILED) board would be as bold.
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*I have ZERO interest in meddling in this particularly crazy momo stock. It remains quite entertaining to keep an eye on though!