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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. Yesterday's price range of $40.01 and $40.15 is within the prior day'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 $45.85 and a 52-week low of $26.26 and closed yesterday at 52% above that low price at $40.03 per share. The 200-day and 50-day moving averages have moved 0.62% higher and 0.29% lower over the past week, respectively.

Twitter Inc (NYSE:TWTR) defies analysts with a current price ($40.03) 23.4% above its average consensus price target of $30.68. The stock should find resistance at its 50-day moving average (MA) of $41.76, as well as support at its 200-day MA of $36.76.

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.

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 am inside day candle twitter inc

Ticker(s): TWTR