Economies.com provides the latest technical analysis and forecast of the american stocks, in order to keep track of the trend of the US stocks.
Twitter's stock rose in the intraday levels amid attempts to vent off oversold saturation in the RSI, scoring a profit of 1.12% in the last session, or 0.33 points, amid negative pressure from the 50-day SMA, while settling below the resistance of 31.02, which represents the ratio 50% of Fibonacci retracement levels for an ascending wave in the short term (from 14.25 to 47.79).
Therefore we expect the stock to return lower, as long as it settles below 31.02, targeting the next support at 27.06, which represents the ratio 61.8% of the same retracement levels.
Expected trend for today: Likely Bearish