Market Overview

Tweet Out This Bearish Pattern, Twitter Inc (NYSE:TWTR)

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The last few days have seen the broader markets have an impressive rally after last weeks nasty sell off.  Twitter Inc (NYSE: TWTR) has also benefited from this bounce, as it was able to move higher by about 10% in just a few days. So is Twitter Inc (NYSE: TWTR) out of the woods when it comes to downside? I say not so fast because the daily chart is showing me a bearish wedge being formed. Obviously from its name it implies more downside is to come. If this pattern does play out as I suspect then traders/investors could look for Twitter Inc (NYSE: TWTR) stock to decline to around $42.70 area. If you are looking to short this market, then you may want to consider Twitter as a prime candidate to profit on. 
 
If you are looking for market guidance and direction, make sure it comes from the Elite Round Table. We have been giving members double digit returns in days in these volatile markets. Our FREE market emails contain information that can actually make you money for both short term trading and long term investing. 
 
 
Parm Mann
Elite Round Table
Follow me on twitter: @ParmMannTrader

The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

 

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