08/07/2014 – Twitter

Twitter TWTR:

1. In our previous (Tues., Aug. 5) Williams edge stock meeting it was noted that a weekly close in Twitter below $45.00 was the weaker position and would indicate a multi-week decline and test of $40.75 (or lower) into the week of Aug. 18 (+/-1 week).

2. The above indication remains intact. Twitter has been unable to get above the $45 level this week (week of Aug. 4) and will likely close the week below $45.00. We feel it’s prudent to wait until Mon. Aug. 11 before taking new short entry in the stock based upon the above. Will update as the market continues to confirm.

David Williams