Twitter, Inc. (NYSE:TWTR) rebounding from a major decline
Twitter (TWTR) shares are rebounding from a major decline and find themselves near a new buy point, as the company reimagines its ubiquitous platform and widens its reach.
Among the innovations is a tool that lets users quickly access their smartphone cameras to insert photos. It’s also developing ways intended to make Twitter more “conversational,” as the company puts it.
Analysts took note of the strategy, which was a key point in the latest earnings report. First-quarter earnings more than doubled, easily beating views, and user growth also topped expectations.
Monthly active users were 330 million in the first quarter, above expectations of roughly 319 million. Advertising revenue jumped 18% to $679 million.
Growth in user engagement (both daily and monthly average users) came partly from Twitter’s improvements to make its timeline and notifications more relevant, analysts at Canaccord Genuity said in a research note after the earnings report.
Encouraged by Twitter’s efforts to rid itself of rule violators and the company’s pace of product development, Canaccord raised the price target to 42 from 32. It maintained a hold rating on 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 35.38.
The projected upper bound is: 41.67.
The projected lower bound is: 36.25.
The projected closing price is: 38.96.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 8 white candles and 2 black candles for a net of 6 white candles. During the past 50 bars, there have been 27 white candles and 23 black candles for a net of 4 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 22.9254. This is not an overbought or oversold reading. The last signal was a sell 10 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 59.93. 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 sell 2 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 -36. 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 1 period(s) ago.
Rex Takasugi – TD Profile
TWITTER INC closed up 0.210 at 38.790. Volume was 39% below average (neutral) and Bollinger Bands were 60% wider than normal.
Open High Low Close Volume___
38.110 39.020 37.830 38.790 2,100,054
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 39.46 34.45 32.52
Volatility: 37 47 68
Volume: 3,065,932 3,234,675 4,181,122
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 19.3% above 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 36 periods.