It's a Bird... It's a Plane... It's Tweeter!!!
Since January #TWTR is in a fly mode, raising more than +31% in May.
Tweeter start this year with price 27.78, which is tick above strong support level, and after better then expected earnings broke strong resistance level at 36.44, toping at 40.48.
But whether it will last?
Fundamental outlook looks OK, earnings are better, revenue is better, and company have more active users.
From TA point of view…well…
First thing to notice is price at support level, bare in mind that this level was a strong resistance level, as you can see.
RSI is on consolidation level, and price formation is well known as a declining triangle.
What can be your call in this situation?
What ever you chose to do, BUY or SELL, take advantage of proper risk management.
As mentioned above this can be consolidation area, but, if price breaks current support level, and if RSI continue with downside direction, this little bird can fly to south.
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