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 (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.
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