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Possible Bearish Inside Day Candle Pattern Detected for Twitter Inc (NYSE:TWTR)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Twitter Inc (NYSE:TWTR) based on the price action in the company's shares. Today's price range of $32.26 and $32.29 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Twitter Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Twitter Inc share prices have moved between a 52-week high of $47.79 and a 52-week low of $26.19 and are now trading 23% above that low price at $32.26 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has slid 0.2%.

Twitter, Inc. provides online social networking and microblogging service. The Company offers users the ability to follow other users activity, read, and post tweets. Twitter serves customers worldwide.

Twitter Inc (NYSE:TWTR) defies analysts with a current price ($32.26) 4.9% above its average consensus price target of $30.68. The stock should find resistance at its 200-day moving average (MA) of $33.90, as well as support at its 50-day MA of $31.72.

SmarTrend is tracking the current trend status for Twitter Inc and will alert subscribers who have TWTR in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle twitter inc

Ticker(s): TWTR