Hello Traders,
Twitter has been the hot topic for the past few weeks. On Bloomberg TV, there was not a day without mentioning this IPO at least 10 times. Finally NYSE gave birth to that child, which is now over two weeks old.
It's time to peek into the chart and see if it says something interesting for us, the traders.
Plotting the DIG Pivot Break and the DIG Smart Points indicators (Exclusively from ProTradingIndicators.com - Available on TradingView) we can see a little brighter.
Overall, the early price action slid down a moderate slope. Lately, we can see a stabilization in prices and a return to the VWAP (Volume weighted moving average). The outcome of the stock for now is neutral to bullish as we saw a failed implosion of prices below the $39 mark, and a quick return up. Also, and more important, we can see a pattern of a double pennant forming on the recent trading day. This bullish pattern is further supported by the green Pivot Break line which acts as resistance. The double pennant + a break of the green line upward is certainly a scenario we are waiting for on Monday.
This is not an offer to buy or sell equities, options or commodity interests. Our trading method is based on historical formulas which have worked in the past. However, what has happened before may or may not happen again.
Twitter has been the hot topic for the past few weeks. On Bloomberg TV, there was not a day without mentioning this IPO at least 10 times. Finally NYSE gave birth to that child, which is now over two weeks old.
It's time to peek into the chart and see if it says something interesting for us, the traders.
Plotting the DIG Pivot Break and the DIG Smart Points indicators (Exclusively from ProTradingIndicators.com - Available on TradingView) we can see a little brighter.
Overall, the early price action slid down a moderate slope. Lately, we can see a stabilization in prices and a return to the VWAP (Volume weighted moving average). The outcome of the stock for now is neutral to bullish as we saw a failed implosion of prices below the $39 mark, and a quick return up. Also, and more important, we can see a pattern of a double pennant forming on the recent trading day. This bullish pattern is further supported by the green Pivot Break line which acts as resistance. The double pennant + a break of the green line upward is certainly a scenario we are waiting for on Monday.
This is not an offer to buy or sell equities, options or commodity interests. Our trading method is based on historical formulas which have worked in the past. However, what has happened before may or may not happen again.