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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. Yesterday's price range of $33.87 and $34.18 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 (NYSE:TWTR) is currently priced 10.3% above its average consensus analyst price target of $30.68. The stock should hit resistance at its 200-day moving average (MA) of $36.62, as well as support at its 50-day MA of $31.13.

Over the past year, Twitter Inc has traded in a range of $28.63 to $45.85 and closed yesterday at $34.19, 19% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.6%.

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 monitoring the recent change of momentum in Twitter Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Twitter Inc in search of a potential trend change.

Keywords: bearish am inside day candle twitter inc

Ticker(s): TWTR