Keeping It Simple

[eastunder]

BUZZ-Twitter attempts to fly free of bear's grasp
2:40 PM ET, 05/02/2017 - Reuters

** Bull turn in Twitter shares has potential to turn more significant if can overwhelm resistance just slightly above current levels. Chart: http://reut.rs/2p2EvPG



** TWTR was one stock that failed to participate in post-election rally

** Since peaking in early Oct at $25.25, shares lost 44 pct into $14.12 mid-Apr low

** That low coming just ahead of its May 2016 all-time trough at $13.73

** Shares, however, suddenly gaining allure as co's Q1 user growth beat estimates, and filing showed CEO Jack Dorsey bought more shares

** And add to mix that billionaire Mark Cuban says started buying shares as an AI play

** Meanwhile, analyst opinion remains skewed bearish, and $15.00 median PT, about 18 pct below the last

** That said, TWTR above its 40-WMA (now $17.50), and weekly fast MACD turning positive for first time since early Oct

** Shares nearing resistance at Feb high ($18.75) and resistance line from 2013 high (now $19.40)

** Can suggest room for another 3-6 pct of gains before rally may stall for now

** Thrust above this resistance, however, can break longer-term downtrend, see shares refocus on $25.25, or an additional 30-pct rise

** Provided support at $17.49 holds, stock can keep fluttering toward resistance; below here, however, can threaten Apr 26 gap fill to $14.96, even lead to new lows