Segal outlined Twitter's plans to boost its development to ship new products and features faster. The company aims to double its revenue to $7.5 billion by the end of 2023 and achieve 315 million monetizable daily active users.
Segal added that if you're a company launching a new product or service, you have to be on Twitter. The service is continually getting better at matching users with the topics they are interested in and matching advertisers with users that are ready to buy.
Segal reiterated that Twitter's decision to ban former President Trump is permanent. The company has made great strides to protect users from harmful content and will continue to do so, he said.
A lot has changed since we looked at TWTR last month. TWTR quickly reversed to the upside and has reached new heights.
Let's check out the charts and indicators of TWTR again.
In this daily Japanese candlestick chart of TWTR, below, we can see that prices broke below the rising 50-day moving average line last month but quickly rallied back above it and took off in February. Prices are firmly above the rising 50-day line as well as the rising 200-day average. With the 200-day line at $43.79, TWTR won't be considered overbought until it passes $88 or twice the level of the long-term average.
The On-Balance-Volume (OBV) line has been very strong and tells us that buyers of TWTR have been more aggressive. The Moving Average Convergence Divergence (MACD) oscillator is bullish but has narrowed in recent days.
In this weekly Japanese candlestick chart of TWTR, below, we can see more price history. Last week's candle was a doji and this week could be a high wave candle or something else depending on where we close today.
The weekly OBV line is strong and the MACD oscillator is bullish.
In this daily Point and Figure chart of TWTR, below, we can see that the software is now projecting the $109 area as a possible upside price target.
Bottom line strategy: TWTR has surprised me with its strength but with the weekly candle patterns suggesting a possible reversal with a doji and the high wave candle pattern, I am reluctant to probe the long side at this point in time.