Since the March low Twitter has been trading within a channel that it is currently trying to break out from.
Additionally $
TWTR
TWTR is currently making new 52week highs, which is always a good setup for a long position.
With the earnings in mind it will be interesting to oberserve whether we can break out of the channel and continue the bullish momentum $SNAP earnings brought to us,
or if we fill the gap and retest the trendline within the channel.
If we dont fill the gap, there is not much resistance up ahead, except major levels that go back all the way to 2015/14 (3 red lines).
If Twitter will outperform earnings expectations we might even be able to fill the gap all the way back from February 2014 (red box).
Tell me your opinion in the comments!
Additionally $
TWTR
TWTR is currently making new 52week highs, which is always a good setup for a long position. With the earnings in mind it will be interesting to oberserve whether we can break out of the channel and continue the bullish momentum $SNAP earnings brought to us,
or if we fill the gap and retest the trendline within the channel.
If we dont fill the gap, there is not much resistance up ahead, except major levels that go back all the way to 2015/14 (3 red lines).
If Twitter will outperform earnings expectations we might even be able to fill the gap all the way back from February 2014 (red box).
Tell me your opinion in the comments!