It was a good evening yesterday as I conducted a private sharing session where I shared more on Twitter and the recent trades on why and how I took a trade on this stock. Many turned up while I continued to revealed my step by step process on how I observed the accumulation phase when Elon Musk first took a 9.2% stake on this stock and how I traded 13 times in/out and at the final blow sold at the best possible price at the top. I studied the whole accumulation phase in the daily chart where there were so much obvious signs that accumulation took place.
From the strong cob to those smaller weak selling, it was all tell tale signs that something big was going to happen and true enough, news broke out soon where Elon Musk took a 9.2% stake where prices shot up high where sellers were selling and buyers were taking profits. As of today, the stock is left hanging without a proper direction which was exactly what I expected and wanted it to happen because all these predictions were shared last evening before it happened when market opened for trading.
The Nasdaq was very bullish yesterday and shot up high while Twitter couldn’t move at all. It’s one of the worst performer yesterday without much buying taking place. Buyers were fret and unsure what’s the next step and all are waiting for more updates and news on accepting the latest takeover bid from Elon Musk. The Nasdaq 5 minute chart has more signs that Twitter was weak at the moment when Nasdaq broke the wall while Twitter just lost it’s buying strength. Soon, Nasdaq formed a 3/4 top and started to broke down with 1 bar because of Netflix bad earnings and losing of subscribers. Tonight is going to be interesting as I am not sure if this Netflix bad earnings will have a spill effect to the overall tech stocks. Let’s see.
Ronnard – Market Psychologist – A Stock Market Opportunist