Twitter (NYSE:TWTR) will report earnings on today before the open, as the stock has been trading in a very tight range for the month. For now, it’s holding above the 20-day and 50-day moving averages and just below stiff resistance at $36.
On earnings, look for a close over $36 to signal a potential breakout to higher prices. On a pullback, see that uptrend support holds. If it does, the more quickly it can reclaim the 20-day and 50-day moving averages, the better.
If uptrend support doesn’t hold, $30 is in the cards and possibly $28 if that doesn’t hold. Let’s not get over our skis though. We want to see how TWTR trades after earnings first.
Twitter SHORT (Sell)
Enter at: 31.30