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Bank of America Merrill Lynch Reviews Socials; Google, Instagram, Facebook Messenger, YELP and Twitter

BofA/Merrill Lynch analyst Justin Post upgraded Twitter, Inc. (NYSE: TWTR) to a Buy from Underperform with a new price target of $39.00 (prev. $31.00). Post outlined a modest improvement in reported usage-ratios, growing penetration metrics (+48%), and positive usage intentions. The analyst sees positive momentum for the stock. He sees the equity as a “strong play” with video and video ad dollar shift Online.

Twitter Sales and Earnings

Sales and earnings trends have continued an upward trajectory. As a result, Investors Business Daily ranked the stock #1 in its peer group. Note the 110% change in EPS last quarter.


TWTR Metrics


Twitter Daily

Twitter is trading (+3.22%) in early trading, hovering just below the 200d. Anticipate initial resistance at this level, with an additional target of 36.15 and 37.13 (+/-) in the short-term once and “if” the 200d is taken out.


TWTR Daily


Twitter 60 Minute

Twitter 60 minute shows the pocket above 33.08 being explored in early trading. Overhead resistance for day traders should be anticipated at 34.70 (+/-). Overnight swing traders will most likely take profits at the open, so we would also anticipate a potential fade as these traders exit positions.

There is also the possibility that shorts might cover should prices start moving higher.


TWTR 60 minute


We’ll seek a day trade in Twitter if the stock holds near pre-market highs this morning. Earnings are scheduled for February 7.

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