July 17, 2023

Elon Musk the only hope for Twitter???

The stock opened low on Monday the 11th and recorded  a session low of $32/share and closed the session ~11% below its previous close. The stock is currently at the same support it was trading on back in February and it is anticipated to test this level ($32 - $31) again in coming days. 

The downward pressure on a monthly timeframe is likely to push price below the current support to the trend line ($29/share) marked in white and this will be the first buy-zone for most trend traders and Investors.  However, I will be looking for a further weakness to the downside (trend-breakout) and target the demand zone at $22/share as shown in the attached images.

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