Twitter Future Technical Analysis & Market News – 14 September 2022
14 Sep 2022
TWITTER: NEWS & TECHNICAL Analysis
Twitter whistle-blower reveals employees concerned China agent could collect user data
The FBI informed Twitter Inc (NYSE:TWTR) of at least one Chinese agent working at the company, U.S. Senator Chuck Grassley said during a Senate hearing on Tuesday where a whistle-blower testified, raising new concerns about foreign meddling at the influential social media platform.
Peiter “Mudge” Zatko, a famed hacker who served as Twitter’s head of security until his firing in January, said some Twitter employees were concerned the Chinese government would be able to collect data on the company’s users.
Twitter has come under fire previously for lax security, most notably in 2020 when teenage hackers seized control of dozens of high-profile accounts, including the verified profile of former U.S. President Barack Obama.
On Tuesday, Zatko’s testimony before the Senate Judiciary Committee revealed Twitter’s security issues could be far more serious, alleging for the first time that the company was informed of agents of the Chinese government working at the social media firm.
Still, shares of Twitter rose almost 1% amid a sharp market selloff. The stock moves almost exclusively based on sentiment about whether billionaire Elon Musk will be forced to complete his $44 billion deal to buy the company, and the Tuesday gain suggested investors did not see any new details that could favor Musk’s effort to abandon the deal.
TWITTER Technical Analysis: Daily Chart
In the weekly charts, TWITTER is trading in down channel. TWITTER is currently trading above all SMA.
RSI is in buying zone which indicates bullishness. MACD is currently above zero which indicates bullishness.
Its immediate support is 40.47 & the resistance level is at 43.59.
TWITTER will trade in down channel until there is trend reversal.
How to Trade TWITTER this Week:
TWITTER will follow the uptrend until their trend reversal. So, remain bullish on TWITTER.