Twitter Opting for the Red Bird

Sentiment on the TWTR stock seems to be at an interesting juncture, with many convinced of the long-term bull case. After all, the real-time/breaking news aspect of the platform is certainly on the cutting edge. Nonetheless, I posted the bearish technical setup yesterday on Stocktwits. And, despite a market bounce today, the Twitter bird is more of a Cardinals fan today, opting for the red. On the updated daily chart, below, if buyers fail to recapture $39 anytime soon I still consider this one to be a short setup, as per the highlighted technical base breakdown in progress.