Thursday, 6 February 2014

TWTR - still sold lower

Despite surpassing consensus expectations, Twitter (TWTR) still collapsed after posting Q4 earnings. After a brief 6/7% spike in Wednesday AH, TWTR settled a rather extreme -24.2% lower @ $50.02. Near term looks shaky, especially if the main market resumes lower.

TWTR, daily


Yesterday afternoon, I had noted TWTR looked more vulnerable to downside than upside. At best, $70 seemed briefly possible, but that 'regardless of the number, good or bad', I expected the stock to slump.

My downside target range was 60/55, and to see TWTR hit $50 in the opening 30mins of this morning was somewhat amusing.

In the closing minutes of the day, there was again another micro wave to the downside, with TWTR again finding strong support at the huge $50 threshold.

*I remain watching the momo stocks, but..have zero interest in trading such 'hysteria' surrounded stocks. I have next to no tolerance or patience for such price swings..whether higher..or lower.