On Friday, we took a look at the daily chart of PTON to see if it agreed with the Goldman Sachs $96 price target.
For today’s chart of the day, let’s take a look at 2U, Inc. (TWOU).
TWOU is an online program manager that works with non-profit colleges and universities to offer online degree programs.
With the uncertainty about returning to college campuses, TWOU is in the spotlight, thanks to its offerings of alternative methods for achieving higher learning credentials.
The stock has been in a solid uptrend starting in April, but saw some profit taking at the beginning of August.
Let’s take a look at the daily chart and see where TWOU stands now:
After hitting new 52-week highs, TWOU gapped down to start a pullback, eventually trading down to its lower Keltner Channel. It formed a small double bottom and managed to close back above its Keltner midline on Friday.
This is a sign that the stock could be ready to resume its uptrend, so it should be watched for a fresh buy signal.
See ya tomorrow!
Analyst, Chart of the Day