On Thursday before the market opened, Twitter announced fourth quarter earnings that beat analyst expectations and sent shares soaring in the pre-market.

The social media company announced adjusted Q4 earnings to the tune of $19 cents per share on $731.6 million in revenues while analyst were looking for $14 cents on $717.2 million in revenues. This was a strong beat and a breath of fresh air for long time investors.

This great news will likely bring in new investors and a lot of speculative traders looking to take advantage of a surge up in prices. Expect heavy volume and a lot of volatility.

TWTR Technicals

(Click on image to enlarge)

As you can see in the 5-minute chart above, shares of TWTR shot up on solid volume following their earnings announcement. Prices haven’t traded at these levels since the beginning of 2016.

Some important levels we will want to watch is the $32 pivot in the pre-market followed up by $30 and $27. We should see some resistance at $35 and $40 if prices push that high.

I would imagine this will spark a lot of traders interest so make sure to keep this one on your radar today.

CEO Comments

“Q4 was a strong finish to the year,” said Jack Dorsey, Twitter CEO. “We returned to revenue growth, achieved our goal of GAAP profitability, increased our shipping cadence, and reached five consecutive quarters of double digit DAU growth. I’m proud of the steady progress we made in 2017, and confident in our path ahead.”