We looked at the charts of TWTR in the middle of July ahead of earnings noting that "the share price of TWTR can react sharply to the downside when investors and traders are disappointed. Overall it looks like TWTR bulls have a slight advantage. My money (assuming I could trade individual stocks) would be on the upside but traders need to be able to risk a close below $34 to buy TWTR here."
Let's look at some updated charts.
In this daily bar chart of TWTR, below, we can see that the share price of TWTR has continued higher since our last update. TWTR is above the rising 50-day moving average line and the bullish 200-day line.
The trading volume has been good the past three weeks and that is a positive along with a rising On-Balance-Volume (OBV) line.
The Moving Average Convergence Divergence (MACD) oscillator has narrowed recently but it is still bullish.
In this weekly bar chart of TWTR, below, we can that prices are above the rising 40-week moving average line. The weekly OBV line shows a small uptick and the MACD oscillator is bullish.
In this Point and Figure chart of TWTR, below, we can see that the software has suggested a possible downside price target of $37. A trade back to $42.65 or higher should turn the price target bullish.
Bottom line strategy: If you are long TWTR from our last story/report in July, you can continue to hold it but raise your sell stop protection to $38. A test of the $48 area is next.