NFTRH+ is only about charts, so here’s a chart. Actually two of them, a weekly and a daily of TWTR, which I have been holding for a while now. While there are some good short setups out there (like TSLA, per yesterday’s post) in the whipsaw market that has not chosen its next major direction yet there are positive setups as well.
Here is the weekly chart we had been using to gauge a buying opportunity for traders. The stock hit the breakout line this week under pains of Facebook’s pressure on social media and the generally volatile stock market with major pressure on Tech.
The daily chart shows that TWTR declined to fill the big gap while hitting the support noted above. There is another gap that could fill as well. That gap generally sits at a lateral support area and an uptrend line. That would temporarily break the support line on the weekly chart above, but a quick drop and reversal would not constitute a loss of support.
Just churning a couple of ideas…
- TSLA short, possibly at around 320 to 330; stop loss above 340 to 360.
- TWTR long, possibly at around 25+, stop loss below 24 (Feb. low).
- The above assumes a neutral market and your positive or negative view on the stocks in question. The market is not expected to remain neutral for long w/ respect to its next strong trend. Short-term market trends are down. Major trends remain up.
Here is the daily TSLA chart for reference.
A reminder that chart based NFTRH+ updates are technical trade setup ideas, which may not be revisited as the buy, sell, stop parameters are already noted. They are meant as a starting point for your further research if interested. I will not personally buy every item highlighted and will sometimes sell (ref. Trade Log) any item that I do buy below target (assuming I’ve not stopped out or sold for some other reason), which is something I often do as a trader. Also please be aware that I am not a fundamental stock analyst. Due diligence is your responsibility.