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SNAP Earnings Lifting Twitter (TWTR) Creating a Tailwind in Sympathy?

Twitter (TWTR) moved above short-term resistance pivots, in sympathy with the same crowd trading SNAP no doubt. The latter popped on earnings (+24.30%) after hours, providing a tailwind for Twitter (TWTR) which has its own earnings report due on Thursday BMO.

Twitter (TWTR)

Similar to recent Apple price action, Twitter is rising above short-term pivots, as the latest wave or cycle up accelerates. RSI and MACD are bullish, as price action closes in the top of its 60 minutes candles most of the time, since crossing back above the 20ema on January 30. RSI for one has stayed above 50, suggesting the 60-minute trend (20ema) will support pullbacks assisting the current bullish sentiment.


TWTR 60min


Daily price action is contained within a narrow band between 26.19 (+/-) and 37.13 (+/-) since the disappointing gap lower in August.


TWTR Daily


If the indices recover from early session weakness, the tailwind provided should be enough to lift Twitter higher into Thursday’s report.

Futures are rising, after a brief dip this morning.

Pre-market action: Reference recent comments on AMD, AAPL as the stocks are trading higher. TWTR (+2.15%) in the early session.

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