PUG Stock Market Analysis, LLC | Technical Analysis Blog

PUG Stock Market Analysis is here to help with SP500, QQQ, IWM, Gold technical analysis, stock analysis and more.

February 6th, 2014: TWTR Wave Count Update

Posted by pugsma on February 6, 2014

5:50 pm EST:  Here is a quick TWTR wave count update.  Today’s drop below $50.09 eliminated the initial wave count proposed back on January 8th.

So it looks like P1 topped at $74.67 and a P2 deep correction is underway.  The P1 wave moved up from the IPO price of $26.00 to $74.67.   The most typical fib retrace target for P2 would be 62% or $44.49.  However, there are other fib retraces as well as corresponding wave targets shown on the 60-min chart below.  It looks like P2 should bottom somewhere in the $50 (50% retrace) and $36 (76% retrace).

TWTR 60-min chart (EOD):

PUG TWTR 60min chart EOD 2-6-14

Sorry, the comment form is closed at this time.