Twitter Hits our Downside Target

Back on February 20th, with Twitter (TWTR) at 56.65, we wrote: "The fact that TWTR sold off hard from yesterday's high and is struggling today suggests strongly that it started a new corrective down leg at 60, and should be heading for a probe of the post-EPS low -- and possibly a break towards 45.00 thereafter."

Twitter went on to close at 44.43 this past Wednesday Mar 26, and has since rallied to 47.30.

Twitter needs to climb above 50.00-.20 to signal that a significant corrective low has been established.