brianmontgomery
Long

Possible trade set up on TWTR

NYSE:TWTR   TWITTER INC
TWTR             has been bullish since 27JUN. It had a HUGE day on 3AUG which completely blew out the SMA50. During that day, on the 5Min chart, there was strong resistance at the 17.50 mark. It traded down upon open today 4AUG and gained positive support near this level and breaking yesterday's resistance. TWTR             is showing bullish at this point, but I'm not sure how far we have to run on this current bullish trend . Has the opportunity to buy past already for a decent risk to reward ratio? TWTR             would need to break 19.19 for a 2R R2R if we place a stop at the 17.50 mark.

It would probably behoove me to wait for a pull back and buy in if it comes back to 17.50.
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