TWITTER- Bounced From Its Support Zone, What Now?
AvaTrade | Apr 17, 2014 06:53AM ET
Twitter has bounced sharply up from its major support zone (mentioned below) on a 4 hour time frame. The support zone has shown that there was an incredible amount of buying pressure, which has pushed the price higher. The volatility for the stock is low as it is trading within the Bollinger and close enough to its moving average. The price is also trading above the upward trend line which means that the upward trend is intact since it has bounced from its low. Moreover, it has also broken its downward trend line which is a bullish sign for the stock.
The RSI is trading in line with the price action which means that the bias could be to the upside.
Important Level
Resistance Zone
58.98 – 57.34 Major
51.19-49.97 Minor
Support Zone
40.29 – 38.90 Major
h3 Disclosure & Disclaimer:/h3The above is for informational purposes only and NOT to be construed as specific trading advice. responsibility for trade decisions is solely with the reader. by Naeem Aslam
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