Hawkeye is bullish on Twitter, symbol TWTR. Our Roadkill indicator signaled an entry for TWTR last week, but it was in congestion. As a result, we could not enter the trade. But if we get positive price action today, the setup could yield a nice entry point. Watch today’s analysis for more details.
Using triple timeframes, you get a real sense of confidence when you see a trade setup. I show TWTR has a monthly uptrend, a weekly uptrend, and a daily congested uptrend. The weekly chart also shows a really nice cup-and-handle formation which is also a bullish indication.
Hawkeye volume shows very good accumulation and buying pressure on the monthly and weekly charts. Daily chart volume is not so good, but the volume is OK. If TWTR breaks above 42.69 on good volume, we anticipate price to move back up to the $47 range, with a stop at $41.29. That would give a risk:reward of 1:3, and a potential return of about 10%.
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