Twitter Charts Are All About Risk and Reward

The charts of Twitter (TWTR) were reviewed not quite one month ago, where I suggested that "The price gap on TWTR is relatively new but the uptrend got started back in September and is likely to persist. Longs should continue to hold and raise stops to a close below $29." In the past month TWTR has not declined to close below $29 so traders should still be long and the new highs for the move up this month keeps the bull in control. How do things look now?

In this updated daily bar chart of TWTR, below, we can see that prices moved above $34 to new highs but trading volume really did not expand much. The daily On-Balance-Volume (OBV) line inched up very slowly and has made a new high, just not a convincing one (interesting how a math driven indicator can be subjective). The Moving Average Convergence Divergence (MACD) oscillator is above the zero line in bullish territory but could cross up or down depending on the price action in the days ahead. Prices are above the rising 50-day and 200-day moving average lines but prices look extended compared to recent history....205 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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