Whilst the main market saw minor chop, there was some notable strength in the momo stocks. Twitter (TWTR) had to fight hard to hold minor gains of 0.3% @ $39.09. Near term outlook is moderately bullish, but there will be severe resistance in the 42/45 zone next week.
The break of the support floor - taking out the Nov' 2013 low, was a major fail for TWTR. Yet, the Wednesday candle was itself a reversal, and we did see TWTR breaking (if briefly) into the low 40s today.
Immediate outlook is moderately bullish, but even if TWTR can claw 10/15% higher across May/early June, I certainly see this stock falling to the IPO issue price of $26 later this summer.
For the moment, TWTR remains a loss making momo stock, and it remains somewhat entertaining to keep an eye on.