Monday, November 25, 2013

TWTR Aftermarket

Here is today's chart for the Twitter IPO:


Chart courtesy of StockCharts.com 

As expected, TWTR broke its $40 support level. Volume is up. We would expect some selling momentum to develop.

We do not expect the underwriter to support the stock this far above the offering price. The underwriter's duty is to the IPO buyers, not those who bought much higher up.


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