TWTR slips to lowest close since May 9th
Twitter Inc. (TWTR) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team
TWTR finished Thursday at 32.58 losing $0.19 (-0.58%). Today's closing price of 32.58 marks the lowest close since May 9th. Closing below Wednesday's low at 32.67, the share confirms its breakout through the previous session's low having traded $0.39 below it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (TWTR as at May 17, 2018):
Thursday's trading range was $0.73 (2.23%), that's below last trading month's daily average range of $1.37. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.
Despite a strong opening the stock closed below the prior day's open and close, forming a bearish Engulfing Candle.
Prices are trading close to a key support level at 32.25.
Twitter shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.
Buying might accelerate should prices move above the close-by swing high at 33.22 where further buy stops could get triggered.