Twitter Flies
Twitter (TWTR) reported earnings of $0.19 per share and revenue of $731 billion, both which beat expectations of $0.14 per share and $686 billion respectively. TWTR flew over 20% on the news, trading in the mid-$30s on Thursday morning. This was its first time posting a profit in 12 years.
This stock’s consistent bullish pattern has yielded big gains, from our support level / buy zone labeled in November 2017. In the intermediate term, we expect a minor pullback, as the current cycle completes. In this case, there may be a buying opportunity as rising phase of the next cycle begins.
The market cycles on the chart below are designated by the purple semicircles at the bottom of the chart.
TWTR Stock Chart (Weekly Bars)
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