I'm trying to avoid candlestick trader parlance for the general public.
What I am referring to is a possible engulfing bear reversal at an all time high. That is not an overbought/overvalue signal. That is a signal that a top has very likely been put in on that instrument or market.
Twitter also ended the day and the week at the dead lows which is another sign of weakness because by definition there weren't buyers moving it back up.
I think it can hit 40 bucks before the end of the month and if that doesn't hold I'd look to sell every bounce.
zoom out to the monthly since inception. Halfway through January and it's reversed all of December gains.
That's a "topping" signal for lots of traders, expecially if we close the month of January completely reversing January by a substantial amount.
That sets off more selling.
That's more of an overbought/overvalue signal.
I'm trying to avoid candlestick trader parlance for the general public.
What I am referring to is a possible engulfing bear reversal at an all time high. That is not an overbought/overvalue signal. That is a signal that a top has very likely been put in on that instrument or market.
https://www.investing.com/equities/twitter-inc
Twitter also ended the day and the week at the dead lows which is another sign of weakness because by definition there weren't buyers moving it back up.
I think it can hit 40 bucks before the end of the month and if that doesn't hold I'd look to sell every bounce.