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.