TWTR Twitter Weekly Chart Sideways Symmetrical Triangle and Channels

Keystone highlighted the sideways triangle at the end of last year and the resulting test of the lower rail resulted in a bounce to begin the year. Then price bumps its head on the upper rail in Feb-Mar. Then price breaks out to the upside it looked like Twitter was destined to travel higher but alas, price rolls over and returns inside the triangle. False breakouts occur often in sideways triangle patterns where price then reverses and shoots out the other side, in this case it would be lower.

Price hesitates at the horizontal support at 37.80 and bounces, moving up for a back kiss of the lower rail of the triangle. Price may come up a little further to kiss the lower rail at 39-40 but it does not have to. The 37.80 support is important. So there is a lot going on at the 37-40 area. Price must choose to bounce or die from here and the decision will likely occur this week. The indicators are weak and bleak wanting to see lower lows in price. The RSI is open to seeing price come up for the back kiss at 39-40 then moving lower again.

TWTR bulls need price above 40 back inside the safety of the triangle and moving higher. Bears need price under 37 to cascade lower. There are gap fills needed at 32-33. This is an important week in Twitter's 18-month history. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.

Note Added 9:51 on Thursday Morning, 5/7/15: TWTR keeps playing around at 37-40 now printing 37.60. It is time to make a critical bounce or die decision.