Monday, February 11, 2019 12:00:08 PM
Recently, leading social media stock, Twitter Inc (NASDAQ:TWTR), 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 10.0 percent and is currently trading around the $30.20 level. There are some short term support levels for TWTR stock in the near term, but the next major level is much lower. TWTR stock is currently trading below its important 50 and 200-day moving averages which put the equity in a weak technical position near term. Traders and investors should now look at the $25.00 level for major support. This is where TWTR stock 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.
Nick Santiago
InTheMoneyStocks
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