Twitter buoyed by current support - Analysis - 13-08-2018

Twitter's stock climbed a modest 0.16% in the last session, or 0.04 points, after the support of 30.96 held on, representing the ratio 50% of Fibonacci retracement levels for an ascending wave in the medium term (from 14.12 to 47.79), while the stock attempts to vent off oversold saturation in the Relative Strength Index, countered with negative pressure from the 50-day SMA. 

Therefore we expect the stock to return lower, especially if the support of 30.96 was breached, targeting the next one at 20.98, which represents the ratio 61.8% of the same retracement levels.