Twitter Inc (TWTR) surged this morning after it was upgraded by JPMorgan Chase (JPM). However, a Twitter stock trade alert on the short side has formed off the upgrade pop. The stock reversed a substantial amount and now has a major technical topping tail on the daily chart. Topping tails are extreme bearish indicators that signal huge institutional distribution. This likely signals a near-term top on Twitter. A near-term downside target will likely be $45.65 from the current $54.42 range.
Once the topping tail forms, stick with it until target. The only way it gets negated is if price any day above the topping tail high, currently at $56.11. Then exit the trade.
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Twitter Stock Trade Alert