Twitter: Here's The Trade
InTheMoneyStocks.com | Feb 11, 2019 02:58PM ET
Twitter (NASDAQ:TWTR) recently reported earnings that disappointed Wall Street. The stock peaked out on February 6, 2019 at $35.21 a share. After earnings, the stock plunged lower by more than 10 percent and is currently trading around the $30.20 level. There are some short-term support levels for TWTR in the near term, but the next major level is much lower. Twitter stock is currently trading below its important 50- and 200-day moving averages, which put the equity in a weak technical position, near term. Investors should now look at the $25 level for major support, which is where TWTR broke out in February 2018 on massive volume. Often, when a past breakout level is tested for the first time, it will be defended by the institutional money. Keep this trade level on the radar.
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