Twitter emits more negative signals - Analysis - 07-06-2022

Economies.com
2022-06-07 13:13PM UTC

Twitter's stock declined in the intraday levels after Tesla CEO Elon Musk he might end the acquisition deal if Twitter continued to refuse offering the information about fake accounts, with Twitter responding by asserting it'll share information cooperatively with Musk, with the stock sliding 1.49%, or 60 cents to 39.56, with trading volumes surpassing 26.1 million shares, above 10-day averages of 17.8 million shares. 

 

Technically, the stock is suffering negative pressure from the 50-day SMA, amid the dominance of the main downward trend in the medium term, as the RSI reached overbought levels compared to the stock's movements, hinting at negative divergence. 

 

Therefore we expect more losses for the stock, targeting the first support at 35.40, provided it settles below the resistance of 40.96. 

 

Expected trend for today: Bearish

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