Friday, July 25, 2014

Is Twitter facing an ABC pattern


Is Twitter (TWTR) facing an ABC pattern ?
You often read on this blog that I refer to a pattern I call the ABC pattern, You can call it the 123 pattern as well, does not matter, its just a simple pattern that works pretty well "AFTER" (notice the big after) a major up or down trend
There is a logical reason behind this simple pattern, yes people, news, fundamentals, real catalysts are needed to change the "big picture".
In mid June the pattern started to take shape, then heading to "A" where the good news came out.
Price pulled back to find a reliable support? At "B"
The B level seems to confirm that former Gap level ; So how reliable is B? We shall soon find out.
C basically means that price breaks above A, thus confirming a real bullish reversal

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