Twitter Possible Short Entry At Historical Level of Resistance

TWTR



Possibly a good time for me to start a short position on Twitter by End of Jan, 2023 (or start adding some options starting tomorrow, 10/21/2022).

Truthfully, I believe that this will happen sometime in November, but I allow myself a larger margin of safety.

It's currently up +61.25% from its July 2022 lows.
A 32% pullback on the move from July '22 lows to $56/share (should it hit $56, would be a gain of +$23.48 or, +72.20% ROI), would bring it down to (-$15.97 per share, $40.03 per share, -28.52% per share).

So overall, from here we have a potential long profit of +6.79% ROI, with a potential loss of -28.52% on your investment should you buy at $56 and not sell.

I'm liking a short position the closer we move to $56 as personal choice, not investment advice, just pure chart analysis.