Twitter, Inc. (NYSE:TWTR) making progress on efforts to improve the user experience

Twitter, Inc. (NYSE:TWTR) making progress on efforts to improve the user experience

Twitter, Inc. (NYSE:TWTR) making progress on efforts to improve the user experience

Shares of Twitter Inc. TWTR, +0.12% are up 0.4% in morning trading Thursday after Guggenheim’s Michael Morris raised his price target on the stock to $41 from $33 in a broader note about internet stocks.

Morris also upgraded Facebook Inc.’s stock FB, +1.43% to buy from neutral and slashed his rating on Roku Inc. ROKU, -5.99% shares to neutral from buy. He said that Twitter, which saw its shares close Wednesday at $34.38, has been making progress on efforts to improve the user experience, and he sees room for further enhancements as the company experiments with new conversation tools and reply options.

He also wrote that the U.S. election season can help drive increased usage and advertiser demand. Twitter’s stock has climbed 15% in the past three months, as the S&P 500 SPX, +0.21% has gained 13%.

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 32.21.

The projected upper bound is: 36.76.

The projected lower bound is: 32.22.

The projected closing price is: 34.49.

Candlesticks

A black body occurred (because prices closed lower than they opened).
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 27 white candles and 22 black candles for a net of 5 white candles.

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 84.3250. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 8 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 67.89. 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 68 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 149.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 6 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 17 period(s) ago.

Rex Takasugi – TD Profile

TWITTER INC closed up 0.040 at 34.420. Volume was 38% below average (neutral) and Bollinger Bands were 17% narrower than normal.

Open High Low Close Volume___
34.870 35.130 33.900 34.420 2,388,864

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

Moving Averages: 10-period 50-period 200-period
Close: 33.27 31.88 33.39
Volatility: 26 45 66
Volume: 2,990,177 3,428,456 4,382,705

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 3.1% above its 200-period moving average and is in an upward trend. Volatility is low as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume into TWTR.N (mildly bullish). Our trend forecasting oscillators are currently bullish on TWTR.N and have had this outlook for the last 12 periods.

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