Twitter, Inc. (NYSE:TWTR) generating sharply higher sales and profits
Shares of Twitter (NYSE:TWTR) popped 22.1% last month, according to data provided by S&P Global Market Intelligence, after the microblogging specialist reported better-than-expected third-quarter results.
Twitter’s revenue surged 29% to $758 million despite a 9 million decline in monthly active users, to 326 million. The company continues to make progress with its plans to reduce inactive and malicious accounts in order to better combat spam, harassment, and misinformation.
Advertisers appear to be embracing the changes. Ad revenue leapt 29%, with ad engagements increasing 50%.
Moreover, as my colleague Daniel Sparks explains, a 9% increase in daily active users is evidence of how improving the quality of its user base is benefiting Twitter’s business.
All told, Twitter’s third-quarter adjusted (non-GAAP) net income soared 109% to $163 million, or $0.21 per share.
Overall, the bias in prices is: Downwards.
Note: this chart shows extraordinary price action to the upside.
By the way, prices are vulnerable to a correction towards 32.86.
The projected upper bound is: 35.11.
The projected lower bound is: 28.78.
The projected closing price is: 31.95.
A big black candle occurred. This is bearish, as prices closed significantly lower than they opened. If the candle appears when prices are “high,” it may be the first sign of a top. If it occurs when prices are confronting an overhead resistance area (e.g., a moving average, trendline, or price resistance level), the long black candle adds credibility to the resistance. Similarly, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area.
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 29 white candles and 21 black candles for a net of 8 white candles.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 24.7343. This is not an overbought or oversold reading. The last signal was a sell 6 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 49.95. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 39 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -35. This is not a topping or bottoming area. The last signal was a sell 6 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 0 period(s) ago.
Rex Takasugi – TD Profile
TWITTER INC closed down -2.070 at 32.010. Volume was 16% below average (neutral) and Bollinger Bands were 15% wider than normal.
Open High Low Close Volume___
34.000 34.100 31.785 32.010 4,088,915
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 34.12 30.44 33.79
Volatility: 53 67 70
Volume: 4,496,032 4,835,458 5,564,831
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
TWITTER INC is currently 5.3% below its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of TWTR.N at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on TWTR.N and have had this outlook for the last 15 periods.
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