TWITTER INCLong
$TWTR Buy Above Double Top $34.39 Target $38
We said back in November that TWTR was oversold and attempting a rounding bottom at $29. The stock is now $34 and needs to clear the double top at $34.39 to close the gap to $38.
InTWTR news:
BofA reiterated its Buy rating on Twitter with a note highlighting its stance that the social-media stock is among its top SMID-cap picks for the coming year.
Shares will do better once the company gets past Q4 earnings early next month, analyst Justin Post says: It faces a "difficult setup" going into the report, and the consensus may not have enough expense growth built in.
Consensus expectations are for a report of $0.27 in EPS on revenues of 996M.
But the company should benefit from the new Promoted Trend Spotlight ads, and could draft in a "secular tailwind" off linear TV time shifting online, he says.
As always, trade with caution and use protective stops.
Good luck to all!
TWTR was oversold and attempting a rounding bottom at $29. The stock is now $34 and needs to clear the double top at $34.39 to close the gap to $38.In
TWTR news:BofA reiterated its Buy rating on Twitter with a note highlighting its stance that the social-media stock is among its top SMID-cap picks for the coming year.
Shares will do better once the company gets past Q4 earnings early next month, analyst Justin Post says: It faces a "difficult setup" going into the report, and the consensus may not have enough expense growth built in.
Consensus expectations are for a report of $0.27 in EPS on revenues of 996M.
But the company should benefit from the new Promoted Trend Spotlight ads, and could draft in a "secular tailwind" off linear TV time shifting online, he says.
As always, trade with caution and use protective stops.
Good luck to all!
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We are not financial advisors. Always conduct your own research and read our full disclaimer at insiderfinancial.com/disclaimer/
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