What in the World is the Longer Term TWTR Chart Telling Us? Hint: Nothing Good

TWTR-- deserves and requires more than a one-liner. Wow, what a chart!  My attached Weekly Chart shows a massive Head & Shoulders Top Formation that is in the process of carving out a Right Shoulder between 36 on the high side and 27 on the low side.

The implication from the pattern indicates that if for whatever reason TWTR declines beneath 26-27 support, it will be vulnerable to powerful forces of long liquidation that sends the stock towards 12-15 optimally, and possibly to SINGLE DIGITS thereafter.

If Left-Right Shoulder time symmetry is equal, then 10-12 weeks will be needed to complete the Right Shoulder, which means another 3-5 weeks from now, or mid-to-late December before TWTR will be extremely vulnerable to acute selling pressure.

Only a climb above 36-37 will invalidate the Top Formation...

Anyone have some thoughts about what conditions or fundamentals would send TWTR into an existential tailspin?

Last is 31.54/65

11 21 TWTR Weekly GIF
11 21 TWTR Weekly GIF

  Matched
x
  • In our live, interactive Trading Room, we identify trading opportunities in ...
  • Equity Index Futures
  • Index & Sector ETFs
  • Individual Stocks
  • Precious Metals
  • Energy
  • Forex
  • Treasuries
  • International Markets
  • And Much More
Join MPTrader Now!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!