TWTR plunged 25% from it's peak after earnings 3 days ago and looks to have found support at 38.93 last Friday. Incidentally this there is a trendline support at this level plus a bullish divergence was developing between price and RSI.
Long today as it breaks the opening or high of the previous candle @ 41.15 with initial stop just below yesterday's low @...
Huge doji or spinning top candle means there is a price reversal on the way. Price may still go up but will not sustain. If the 1st week of November finishes lower than last week of October, expect a downside move further, targeting 36 first, then down to 32 is possible.
The idea is to go long, but just wait the end of the price setback.
We always should try to invest following the major trend which in this case is bullish.
Twitter (TWTR) – Twitter more than tripled the consensus estimate of 6 cents a share, with quarterly earnings of 19 cents per share. Revenue was well above consensus, however Twitter posted its slowest user...
Expecting an increase at opening but fall shortly after.
Resistance 44.72
Support 38.10
expecting a continue trend in a short for the rest of the week.
TWTR is continuing its run after a gap-up post SNAP earnings. Conservative estimate puts TWTR PT at 52 early this week after which TWTR is likely to face a corrective wave down. This is likely to be a correction down to a demand zone at 46.2, after which, TWTR will resume moving up to start a larger Wave 5 up.
TWTR will report earnings 10/29 after the bell.
Twitter just get hit hard after earnings. I personally was super impressed with their earnings and revenue growth. Free cash flow was awesome, too. US markets are doing well, globally, too. I really like Twitter but was bummed to see the drop. What's my game plan or thoughts?
I will wait until $40. I think there's a lot of support there. If some people sell and...
As we previously called out, TWTR did enter our target range before selling off massively. I sold my positions and am looking for more consolidation before reentering a position. Copyright Rohan Karunaratne 2020
