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Fan Yang

Twitter (TWTR) - Monitor $26 for Support

Twitter $TWTR has been in a sharp correction mode since finding resistance around $36.80. On the daily chart below we, can see that price slid down to $27.40 before finding support this week. 

Twitter (TWTR) Daily Chart

(click to enlarge)

- If price continues to correct, I think TWTR will find support around $26. 
- There will be a rising trendline and the 100-day simple moving average (SMA).
- Just below that is a previous resistance pivot that might act as support. 
- If the RSI dips below 30, we should wait for some kind of double dip before anticipating a rebound.

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