Annual forecast for Twitter (2021)

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Twitter stock (NYSE:TWTR) has started coming down, especially this month. The new downtrend has followed a protracted bullish movement that the market has witnessed in the last several months.

From October 2020 to February 2021, bulls held sway. However, from the beginning of March, a new bearish trend has ensued. Price has crossed the EMA 21 to the downside, as it trends further downwards. The William’s % Range period 20 is already in the oversold region and it would remain oversold for a long time.

There would be transient rally attempts but bears would remain winners overall. The outlook for TWTR is clearly bearish for this year, since a clean “sell” signal has already been generated. The support levels at 60.00, 55.00 and 50.00 would be tested and breached to the downside, at last.

 

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