Twitter (TWTR) rallied almost 11% last week and is now retesting the 50 day moving average after spending the last 4 1/2 months below this key level. Twitter (TWTR) briefly traded above the 50 day on Friday but usually the first few attempts fail and we see a correction. That correction happened Friday morning when TWTR hit $37.25 and then dropped to $35.90. Support is now located at $35.90, $35 & $34.66. The next big catalyst for TWTR will be earnings in July.
I'm expecting TWTR stock to hit $75-$100 within the next 18 months but shares will continue to be volatile which is good for trading. Right now, the bottom is in at $29.51 and the trend is up.
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