Elon Musk, the maverick CEO of Tesla and SpaceX, has a lot of bearing on the economic front. Remember how his tweets surged the values of the meme coin Dogecoin? So, Musk offered again to buy Twitter at the previously stated price of $54.20 per share. Twitter price jumped over 12.18% last week and recorded the highest bullish week since late March.
The high volatility in Twitter stock price, whose stock price was a measly $31.30 in Feb, is showing a bullish mode nowadays. The 2022 year seems to be suitable for investors compared to 2021. Buyers are happy after the price recovery in October.
Twitter Stock Price Under $52 Resistance Level
The opening session of the Premarket reveals that the values were $50.15 level, up 0.42% on Thursday, October 13, while the latest price reported was $50.45, up 0.22%. Checking the weekly price swings, it is evident that the price is approaching $52, which is the next bullish hurdle.
Twitter Stock Price Remains Above EMA Ribbon Indicator
Twitter Stock Price is hovering above the EMA Ribbon indicator daily or weekly, making it a desirable option for buyers. Weekly RSI is also bordering the region of the highly overbought zone. It is a very favorable spot for both buyers and investors.
Elon Musk first announced on Twitter on October 4, and Twitter Stock Price went over the roof and surged by 22% in a day. However, later it transverse sideways below the $50 resistance. Now investors struggle at the 400-day moving average for more profits.