$TWTR rejection sets up move lower to $26-30

14 thg 4, 2022

I know everyone's bullish following the announcement that Elon wants to buy TWTR, but the chart still doesn't look bullish.

The candle last week sharply rejected the $51 level which is the level price action originally broke down from, which now sets up a move lower.

I think the most likely scenario from here is that price sweeps the lows. And falls to between $26-30 (possibility it falls lower, but those are the conservative downside targets).

In the very short term, I could see the possibility of one more retest of $51 (which I don't think would be likely to break resistance based on the chart). If that happens and rejects yet again, the probability of this playing out increases a lot.

Let's see what happens over the coming weeks/months.

14 thg 4, 2022

Ghi chú

I could also see another retest of $55, before further downside, but a rejection in that region $51-55, will set up this idea.