Twitter (TWTR) shares are likely to decline, according to trading sentiment at Tradebird, a social trading app. It's important to know what real traders think, because it can provide clues about the future direction of currencies, stocks and commodities. Here's their take on four important investments they say will decline. (For a lock at investments that traders say will rally, click here.)
1. Twitter is trying to fight back against the bears and climbed from all-time lows back up to $15 last week, but the company still had 61% bearish sentiment. Twitter and Yahoo! (YHOO) reportedly met recently to discuss whether a potential merger made sense for both companies, but chances for a deal appear to be slim.
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This precious metal is at the critical level of $1,000 per ounce, and investors are recognizing that. Both bulls and bears are making their case, with the latter having a small advantage with 58% bearish sentiment. China's interest in platinum jewelry is waning, resulting in a steep decline in global demand for the metal in the last several years.
(The chart above is for the ETFS Physical Platinum Shares (PPLT) , an exchange-traded fund designed to track the value of the precious metal.)
3. British Pound
The British currency came under intense pressure last week, dropping to less than $1.44 as "Brexit" support gainied momentum. A 1.5% rebound on Tuesday hasn't made up for last week's declines. Sentiment had shifted to 83% bearish as of Friday.
(The chart above is for the CurrencyShares British Pound Sterling ETF (FXB) , an ETF designed to track the British currency.)
4. Canadian Dollar
The loonie had 54% bearish sentiment and is expected to weaken against the greenback again as a result of slower economic growth and an expected U.S. interest rate hike, regardless of exactly when that hike takes place.
(The chart above is of the CurrencyShares Canadian Dollar ETF (FXC) , an ETF designed to track the value of the Canadian currency.)
The above data were gathered from the social trading app Tradebird during the week ending June 3.