Twitter leans on SMA support - Analysis - 13-05-2022

Twitter's stock (TWTR) declined in a volatile session, after announcing the departure of the executive officers for earnings and consumers, before Elon Musk's expected takeover of the company

The stock is trying to gather some momentum to rise anew, amid the dominance of the upward correctional short-term wave, with the RSI reaching oversold levels compared to the stock's movements, leaning on the support of the 50-day SMA, and marking a loss of 2.19%, or 1.01 points, settling thereafter at 45.08, with trading volumes surpassing 37.6 million shares, compared to the 10-day average of 33.2 million.

Therefore we expect the stock to return higher, targeting the important resistance of 54.57, provided the support of 40.96 holds on.

Expected trend for today: Bullish