Investing.com investing.com 12 Jan, 2021 19:00 am

Chart Of The Day: Twitter's Ban On Trump Looks 'Net Positive' For Investors

Chart Of The Day: Twitter's Ban On Trump Looks 'Net Positive' For Investors
Stocks Analysis by Investing.com (Pinchas Cohen/Investing.com) covering: Twitter Inc. Read Investing.com (Pinchas Cohen/Investing.com)'s latest article on Investing.com

President Trump using his Twitter account to deliver his opinions, policy positions and even hiring and firing updates to his more than 88 million followers, generated enormous publicity for the social media platform, not to mention substantial user growth.1%, after earnings revealed weak user growth.True, the ban on Trump has angered Conservatives, which could exacerbate the same user growth concerns that pressured the stock at the end of October, but the fact that the price found support by the 100 DMA then, and again now, and by the same uptrend line—then and now—suggests there is sufficient demand to take prices back up and challenge the all-time high.Second, the price found support at the 100 DMA—tracing the bottom of a rising channel, therefore confirming its technical significance.

Conservative traders should wait for the price to demonstrate a base above the uptrend line, then await for a retest to obtain a closer entry.Moderate traders may wait for either the base or for greater proximity to the uptrend line.

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