Twitter Hits our Downside Target
Back on February 20th, with Twitter 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.
More Top Calls From Mike
On November 8, just after TSLA (Tesla Inc) traded down a new multi-month corrective low at 185.75, Mike Paulenoff posted the following analysis to the MPTrader member discussion room:TSLA is getting closer to BOTH my next optimal downside target zone of 170-175 AND a condition of downside exhaustion within the downleg from the 8/16 high at 314.67.Bottom Line: As of this moment, TSLAs plunge today to a new big picture corrective low at 186.
On Wed Nov 9, the day before the next consequential CPI (inflation) report, Mike Paulenoff posted the following bullish analysis of the TLT (20+ Year T-bond ETF) for MPTrader members, writing:If my attached 4 Hour TLT (20+ Year T-bond ETF) Chart Setup is whispering anything to us about the next likely near-term directional price surge, then all of the action since mid-October has carved out an accumulation pattern in the form of a big W that has the potential to trigger a sharp
On September 30, 2022, Mike Paulenoff posted the following currency and precious metals commentary to our discussion room at MPTrader:The Dollar and the PM Miners-- I can make a compelling technical argument that this weeks major downside reversal in the US Dollar Index (DXY) from a multi-decade high at 114.78 to todays low at 111.
Last Monday (Oct 31), Mike Paulenoff posted the following analysis of F (Ford) for our MPTrader members:F (Ford) arguably has been in a bear-correction phase for all of 2022. However, one look at my attached 4-Hour Chart certainly makes me wonder if the May-October portion of 2022 represents a budding accumulation period and pattern ahead of a potentially powerful upside breakout heading into 2023.I dont have the answer yet, BUT my rally pattern setup off of BOTH the May 17 and the Oct.
Back on August 29, Mike Paulenoff alerted MPTrader members to his excitement about the potential for a powerful advance in Gilead Sciences (GILD), writing:
For two years, GILD has been traversing a wide (24%) range between 57-59 on the low side and 70-72 on the high side (see my attached Daily Chart). Every time GILD sinks into the vicinity of 60, it becomes relatively cheap within the range (57 stop) ahead of a traverse towards 70-72...