Twitter (TWTR) stock dropped down below $31 but then rallied into the close on Thursday. There is a rumor circulating that a big activist investor is taking a long position. If the rumor turns out to be true and it's Carl Icahn, the stock will skyrocket. The chances are slim but you never know, Carl likes to use Twitter and loves internet companies. Nevertheless, keep an eye on the 10 day moving average located around $32.50. If we see a close above this moving average, it could set off another short squeeze which will challenge resistance located at $33.29 & $34.10.
Long term, Twitter (TWTR) is a steal down here but you will have to ride out the volatility. It's hard for traders to do that!
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