Twitter, Inc. (NYSE:TWTR) is easily a $50 stock

Twitter, Inc. (NYSE:TWTR) is easily a $50 stock

Twitter, Inc. (NYSE:TWTR) is easily a $50 stock

Twitter hit its highest level in more than three years on Tuesday as JPMorgan raised its target on the stock to $50 — a 20.7% upside from Monday’s closing price.

“We are raising our estimates on Twitter shares as we believe advertising momentum is strengthening, particularly among large marketers…TWTR remains 1 of our top ideas, along with Facebook and Amazon, and is on the JPM Analyst Focus List,” JPMorgan analyst Doug Anmuth wrote in a note to clients.

The firm sees the upcoming world cup in Russia as a key source of advertising revenue for Twitter.

Overall, the bias in prices is: Upwards.

Note: this chart shows extraordinary price action to the upside.

By the way, prices are vulnerable to a correction towards 35.90.

The projected upper bound is: 46.90.

The projected lower bound is: 41.91.

The projected closing price is: 44.40.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 29 white candles and 21 black candles for a net of 8 white candles.

A doji star occurred (where a doji gaps above or below the previous candle). This often signals a reversal with confirmation occurring on the next bar.

Momentum Indicators

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.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 89.1245. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 22 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 87.33. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 67 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 125.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 15 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 28 period(s) ago.

Rex Takasugi – TD Profile

TWITTER INC closed up 0.580 at 44.070. Volume was 5% above average (neutral) and Bollinger Bands were 89% wider than normal.

Open High Low Close Volume___
44.090 44.550 43.420 44.070 6,461,437

Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period 50-period 200-period
Close: 39.90 32.97 26.01
Volatility: 41 48 61
Volume: 12,808,614 6,006,819 4,968,118

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.

Summary

TWITTER INC is currently 69.5% above its 200-period moving average and is in an upward trend. Volatility is Our volume indicators reflect very strong flows of volume into TWTR.N (bullish). Our trend forecasting oscillators are currently bullish on TWTR.N and have had this outlook for the last 29 periods. Our momentum oscillator is currently indicating that TWTR.N is currently in an overbought condition.

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