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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
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Dots

* If the dots don't connect, gather more dots until they do...or, just follow the $$$...

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Thursday, April 29, 2021

Twitter Jitters

* See UPDATE below...

The historical "mean" value for Twitter (TWTR), sits at 40.00, as shown on the following monthly chart. It's had difficulty holding above that level since its IPO in November of 2013.

In the space of 11 months (from March of 2020), it went from 20.00 to 80.75. During that time, it censored and permanently banned the sitting Republican President of the United States (Donald Trump) from its social media platform, as well as a huge number of Republicans and Conservatives...and alienated half of Americans in the process.

Twitter's leadership is showing no signs of hiding its political and racial bias against half of Americans anytime soon (many of whom are of differing races, ethnicities and religions). That was especially highlighted on Twitter's platform, following President Biden's address to Congress and Republican Senator Tim Scott's rebuttal last night, as described in this Daily Caller article. Several editorial articles assessing the President's speech can be found here and here.

So, what merits this parabolic spike in price in less than a year...apart from a purely speculative FOMO (fear of missing out) buying frenzy?

I wouldn't be surprised to see a retest of 40.00, or even major support at 30.00, sometime in the near future, as a consequence of Twitter's embrace of biased "cancel culture."

N.B. This is what happened to TWTR in after-hours trading today, following its release of Q1 earnings and growth outlook...

Source: ZeroHedge.com

TWTR reached an after-hours low of 57.55 and closed at 57.60 (an 11.51% drop)...Source: Nasdaq.com


* UPDATE April 30...

How TWTR ended the day and month...