I legged back in on Monday at 31.45. TradingView still not showing last 2 days of volume. I can check volumes on TDA but its annoying....come on TradingView, get with it. It is that inconsistent data quality that has kept me from becoming a paying customer of TradingView. Daily Chart:
A pullback to $30, especially if it's in the very near future, would be an awesome entry IMO. Not expecting it, but on the watch list just in case.
The base count objective is 56.50 and the current stepping-stone TR count gives an upside objective of 55.50. It appears ready to mark up. The downside objective is 4.50 but that seems improbable. I think we are seeing absorption of sellers these past 7 days. I should probably add to my current position (then @TOrm3nted will get his pullback).
Not likely that they're going to break this name out at the end of the month. They'd rather bleed the options dry.
Big news out - TWTR set to join the S&P 500. Many-a-fund will now be adding. https://www.cnbc.com/2018/06/04/twitter-to-replace-monsanto-in-sp-500.html
Can't forget the World Cup impact: https://stocknews.com/news/twtr-analyst-twitter-inc-twtr-positioned-for-world-cup-pop/
You and @Onepoint272 do significantly more detailed/advanced analysis on trades than I ever do. Maybe in the future I will transition to something more like one of your styles, but for now I usually just trade between clear support and resistance for a much simpler "system". It's worked for me so far. So for example, although it can go a lot higher, I would have sold at $36. So if I buy at $30, that leaves me 20% upside, but if I buy at $32.63 which is where it was last time I posted a chart, I've only got 10% upside, and support at $30 means I have 10% downside as well. In my simple, novice system, that's a poor risk/reward for the style that I trade.
Twitter is joining S&P 500, replacing Monsanto. The stock is up 3% after hours. The uncertainty of Twitter's stock price is very high, given questions surrounding the company’s ability to expand and monetize its user base. Twitter has the potential to expand its user base and attract more ad dollars, but the company has not yet demonstrated this ability consistently. The lack of user growth is also concerning.
More news out. $1 billion offered in convertible notes. "Twitter is taking advantage of strong investor demand for convertible bonds, which allow investors a downside-protected way to participate in the stock. Twitter's stock would need to rise to $77.64 before investors would be eligible to convert into the underlying stock. The shares were trading around $40 at midday Wednesday." https://finance.yahoo.com/news/twitter-offer-1-billion-convertible-163220421.html?.tsrc=rss
Somebody always knows beforehand. Check out today's price-volume action A ton of effort with little effect----->smart sellers. Think I'll put a sell-stop in up here. Edit: On further inspection, it appears the bulk of today's volume was at the close, a huge block trade perhaps.
Yes, there was a ton of volume in the last 2-3mins. I sat and watched it as it literally jumped from 39.60 to 40.10 into close. The initial shake when the news was first released also got bought back up to near those levels too. As to your "smart sellers" - curious as to what are you implying here. I'm not an expert when it comes to debt structuring, but this seems to imply to me that longs are protected from dilution in the next 6 years (when the notes mature) with this deal and bond holders now have a reason to see the stock continue to move higher ......... so I dunno, I read this as "stability".
Yeah, stability is what I would infer also. The "smart sellers" remark was before I realized that the bulk of the volume occurred into the close. Maybe there was some sort of rotation of ownership associated with the convertible bond offering. Regardless, $40 is now going to be a price magnet and I do have that P&F target of $56.50. If it fades lower I should look at it as an opportunity to add I guess.
I sold today. My re-entry was 500 shares back at $30.81 on 5/1/2018. Exited at $47.00. The chart below shows the volume profile of TWTR after it's IPO thru July 2017 before the breakdown. As you can see this rally just barely missed the VAH (Value Area High) at $48.25, which happened to be my target. I saw a 153,000 share order on the ask at $47.70 earlier this morning and it became clear to me that some significant supply was now hitting the market At this point it was just too much for to risk a significant pullback and park my money. This IRA is now up 31.3% on the year 92% since 1/2016 as I continue to build it. Good luck to you much longer term guys - I still feel you have a gem here.
Nice play Rock. It was long in the tooth and closed the day with what looks like a reversal. I might've sold at the close @ 45.80 if I'd been available to see it. Usually I do at least catch the close but today I had to renew my driver license. Oh well, the reaction will be going against a strong uptrend.
If TWTR can gold above $40.35 into Labor Day it has the potential of trending higher in 2019. $43.02 is the level I would use to measure short term strength/weakness.
