SUMMARY
Here is the weekly chart of Twitter (TWTR) displaying a very nicely formed Cup & Handle potential! The WXYXZ correction was placed with a subsequent impulse five wave up. The Cup formation is likely done and the handle is being patterned out. So, how is this bullish?
The Cup & Handle pattern is one of the most bullish patterns, though it takes quite a bit of time to complete and confirm. The below chart outlines the projected pathway of the handle formation via an ABC correction. It is likely to retrace 0.5 to 0.618 of the right wall of the Cup; hence, outstanding buying opportunities await! The completion of the handle and the confirmation of a trend reversal back to the original trend will be signaled by a massive rally via a five wave impulse as shown in below chart. All time new highs would not be surprising!
How would the MACD support? The below chart shows that it'll likely continue declining for a bit with the ABC correction but turn upwards to finish 2018 in very positive territory.
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
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