[isatrader]

Can TWTR complete a very early Stage 2A breakout this week?

The four week average volume is 82million, and so it will need a strong weekly close above the $50.09 IPO high to turn the 30 week MA higher, with at least 164million volume by the end of the week - which isn't out of the realms of possibility.

The P&F chart shows it's at a convergence of resistance from the long term P&F downtrend line and the IPO high. But if it can clear the IPO high and close the week above it with strong volume, then it could be only the beginning for TWTR. But clearly, it's at a point of strong resistance and still only in a developing Stage 1 phase currently.

           


Disclosure: I already own TWTR, as I bought in on the gap breakout on 30th June.