Twitter [NYSE:TWTR] shares are currently well off their starting point this year, when they were trading close to $70. They are currently down nearly 35% on a YTD basis. However we think there may be some further short side action for the stock.
Looking at the more immediate short term Twitter stock action, the shares have been trying to break above $45 but with little prospect of doing so. A recent low was also established on 11 July at around the $32 mark. Short traders will have their eye on this as a potential goal in the next few weeks. More importantly, we think there is more bad news to come out of Twitter, and here's why.
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