Here's The Trade On Trump's Social-Media Preference
InTheMoneyStocks.com | Aug 15, 2018 12:46PM ET
Shares of Twitter (NYSE:TWTR) have been under pressure since July 27.That's when the company reported earnings that were not well received by the street. In mid June, the stock actually traded as high as $41.29 a share – it's now trading at $32.01. It is easy to see how this stock has declined sharply over the past month.h3 Watch This Price Point/h3
Twitter is now forming a bearish consolidation pattern on the daily chart. This formation is indicating lower prices to come for the shares. The stock should have major chart support around the $26 area, which is where the 200-week moving average is at currently. It is also a level where Twitter broke out in early February 2018. This should also give solid support to this level and set up for a nice long trade.
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