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

By Shiri Gupta

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 $40.01 and $40.15 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. 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.

In the past 52 weeks, shares of Twitter Inc have traded between a low of $26.26 and a high of $45.85 and are now at $40.03, which is 52% above that low price. The 200-day and 50-day moving averages have moved 0.47% higher and 0.21% lower over the past week, respectively.

Based on a current price of $40.03, Twitter Inc is currently 23.4% above its average consensus analyst price target of $30.68. Twitter Inc shares should encounter resistance at the 50-day moving average (MA) of $41.80 and support at its 200-day MA of $36.70.

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