Twitter returns lower - Analysis - 16-08-2018

Twitter's stock returned lower in the intraday levels, amid negative pressure from the 50-day SMA, while settling below the resistance of 34.93, which represents the ratio 38.2% of Fibonacci retracement levels for an ascending wave in the medium term (From 14.12 to 47.79), marking thereafter a loss of 2.44%, or 0.81 points. 

Therefore we expect more losses for the stock, especially if the support of 30.96 was breached, targeting the next one at 26.98, which represents the ratio 61.8% of the same retracement levels.