Yesterday, before the opening bell, I noted that the share price of Twitter (TWTR) popped up above a consolidation pattern, signaling a bullish swing. However, as news came in that Adam Bain is leaving his post as COO with the company, the market faded the rally.
TWTR 4H Chart 11/11
(click to enlarge)
17.50-18 is key support area:
- The 4H chart shows the stock push above 19.00 and retreat back to almost 18.00.
- The 17.50-18 area will be important.
- It involves an intra-week pivot, a support pivot, and a rising support.
- A break below 17.50 should open up the bearish outlook towards 15.50-60 and then possibly the 13.90-14.00 lows.
- But if price holds above this 17.50-18 area. the bullish outlook is still valid, with 20-20.20 as the first target and 21.00 being the second.