Whilst the broader equity market saw a fifth consecutive day of gains, there was some distinct weakness in the momo stocks. Two of the usual suspects - Facebook (FB) and Twitter (TWTR) settled lower by -1.0% and -2.2%. Mid-term outlook is bullish for both.
Facebook is clearly the stronger of the two, but even Twitter looks set to claw somewhat higher into next earnings.
In terms of pure price...
FB, next key level.... $100, but that is a clear 25% higher... seems far more viable in early summer.. than Q4 earnings in January.
TWTR, initial $40 threshold... and then $50.... the latter does seem viable if earnings 'somehow' improve, along with sp'2200s
*I have no interest in trading any of the momo stocks, but they can be rather useful to keep an eye on, never mind the entertainment value.