Twitter’s opening price at the beginning of 2021 was $54.22. Later in the first month of the year, the price fell to the lowest level in the year at $45.59. After the price fall to $45.59, the price rallied in February 2021 to reach an all-time high at $81.09. Since the all-time high was reached, prices began to go lower. There have been lower lows and lower highs, which has resulted in huge losses as all the $TWTR gains of 2021 have been lost. Twitter is currently at a -16% loss from the opening price of the year.
After Thanksgiving Day, the market opened at $46.54 and closed at $47.10. But on the 29th of November 2021, the price had a gap up from $51.84 which showed a bit of hope until Jack Dorsey announced his resignation as the CEO of Twitter. The share price of $TWTR closed at $45.78 yesterday after Parag Agrawal was announced as the new CEO of Twitter. Price is currently around the year’s support level at $45.59. RSI is currently at the oversold position even after the price is around the support level.
The gap up at the opening of yesterday’s share price for Twitter made the price reach the upper region of the Bollinger Bands, but the price crossed lower to the lower region of the bands at the close of the market. There may be a call for the bulls as a new CEO is appointed. A few Indian-American CEOs have emerged as the CEOs of American Tech Companies, and their share prices have been doing excellently. As the Twitter bulls become more active, the price might reach $66 in the coming weeks.
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