Wednesday, 9 July 2014

FB, TWTR - momo stocks on the rise

With US equities seemingly floored after a mere two day retrace, the momo stocks had opportunity to climb. Facebook (FB) and Twitter (TWTR) settled higher by 3.5% and 1.7% respectively. Mid term outlook is bullish.

FB, daily

TWTR, daily


There is little to note on these two social media monsters.

Both look set to climb into earnings. Indeed, so long as earnings come in 'reasonable', they should rally for some months.

*TWTR looks vulnerable to a violent snap higher at next earnings.. to the $50 threshold.

As things are, I don't normally trade the momo stocks, and I will likely not get involved.