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SmarTrend Watching for Potential Pullback in Shares of Twitter Inc After 1.08% Gain

By James Quinn

Twitter Inc (NYSE:TWTR) traded in a range yesterday that spanned from a low of $24.25 to a high of $25.86. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $25.84 on volume of 14.0 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Twitter Inc share prices have moved between a 52-week high of $45.85 and a 52-week low of $20.00 and are now trading 23% above that low price at $24.51 per share. Over the past week, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has declined 2%.

SmarTrend recommended that its subscribers protect gains by selling shares of Twitter Inc on February 28th, 2020 by issuing a Downtrend alert when the shares were trading at $32.44. Since that call, shares of Twitter Inc have fallen 25.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders twitter inc

Ticker(s): TWTR