- Summary:
- Twitter share price crashes as German Chancellor Angela Merkel expresses disaffection with Twitter's decision to suspend President Trumps's account.
Twitter stock price crashed on Monday as policymakers across the world criticize the company’s decision to suspend President Trump’s personal Twitter account.
The Twitter share price fell nearly 8% on Monday after German Chancellor Angela Merkel said she had reservations about the suspension, calling it “problematic”. The statement, which was put out by her Chief Spokesman Steffen Seibert, reflects growing concerns in political circles about the growing influence of big tech companies. Facebook and Amazon are currently facing scrutiny from regulators in Europe and the US over allegations of antitrust behaviour.
Angela Merkel and Donald Trump have been at odds for most of the latter’s tenure, which is what makes her condemnation of Twitter’s
action noteworthy enough for market attention. Merkel joins Ben Carson and Mexican President Manuel Lopex Obrador.
Technical Levels to Watch
Price has found support at the 45.01 price level (6 October and 30 November 2020 lows). Price has bounced from there and is now targeting the 48.46 resistance. A break above this level closes the intraday gap, targeting 50.23. Above this level, 52.84 and 56.10 are additional targets.
On the flip side, a resumption of the decline retests the 45.01 support level. Below this area, new targets have the potential to emerge at 44.09 and 42.33.
Twitter Share Price; Daily Chart
