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

The last few days have seen the broader markets have an impressive rally after last weeks nasty sell off.  Twitter Inc 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 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 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. 

 

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