FB - Twitter set to open in correction territory after Trump ban: At the Open

Twitter ([[TWTR]], -8%) is tumbling premarket following its move to close the personal account of President Trump, citing a violation of rules following the violence seen at the U.S. Capitol.The controversy around the intersection of social media and politics continued after Twitter late Friday joined other companies like Facebook ([[FB]], -2%) in permanently banning the president. Twitter also quashed attempts by Trump to use the official POTUS account for his new messages.If the premarket losses hold, Twitter will start the trading day down about 12% from the recent closing high seen just last Monday. Shares would be down 14% from the December and 52-week high of $55.87.Looking to the charts, Twitter would also open below its 50-day simple moving average of $48.80. It hasn’t been below that level since Nov. 20. It survived a test on Dec. 10 and then rallied, sparked initially by reports of collaboration with Snap ([[SNAP]], -1%) despite persistent

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Twitter set to open in correction territory after Trump ban: At the Open