Twitter trapped in a hesitant place - Analysis - 13-09-2022

Economies.com
2022-09-13 12:16PM UTC

Twitter's stock (TWTR) fell in the last session after asserting Elon Musk's latest attempt to end his acquisition of Twitter, valued at $44 billion, won't work, with the stock declining 78 cents, or 1.85%, settling at 41.41, with trading volumes approaching 8 million shares, below 10-day averages of 10.6 million shares.

 

Technically, the stock is buoyed by trading above the 50-day SMA, with positive signals from the RSI, while trading alongside the main downward medium-term trend line. 

 

Therefore we expect the stock to decline and target the support of 35.40, provided it settles below 40.95. 

 

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Expected trend for today: Bearish

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