Looking at Twitter (TWTR) and wondering how to trade it? Tweet this.. (April 04, 2016)
TWTR
I want to talk about Twitter ( NYSE:TWTR ) today. First, the company is supposedly going to report earnings on April 26th, though I’ve seen, basically, no confirmation on that, so be mindful. I’ve got sources that say it’s in May; then you can look at Yahoo Finance and Think or Swim says April 26th. Lets just say, earnings are due to be reported in 3 or 4 weeks. What I’m looking at here is that Twitter ( NYSE:TWTR ) has printed a higher low. I’m not a huge fan of the company. I’m not a huge fan of anything about this ticker, but I am a fan of this type of chart.
This looks like a bottom, this looks like a higher low, but so far the 50-day moving average, after it got broken down here, the 50-day moving average has been resistance here. Any little move here is basically just capped by the 50-day moving average. But you can see this is just starting to drift sideways. The STOCK has been drifting sideways long enough to bring the 50-day moving average to a flat point; which means that overt the next few days, it could even happen tomorrow, any move higher on the STOCK will push it back above the 50-day moving average; only this time it won’t be as EXTENDED as it was from the last move higher. So the next move above this 50-day moving average is likely to hold. Anyway, I want you to check that out and be aware of that.
Free Chart