Twitter Stock Very Easily Could Push Beyond IPO Highs
The reputation Twitter (NYSE:TWTR), as well as Twitter stock itself, has been on the rise in recent months. As its much larger rival Facebook (NASDAQ:FB) remains mired in political controversy, the San Francisco-based social media firm continues to attract engagement, and by extension, revenue.
Given its valuation and its path to growth, I think TWTR has finally positioned itself to return to its post- IPO highs.
Twitter Jumps a Technical Level Midday; Apple Slips to 3rd in Market Cap
Investing.com – Twitter was sharply higher midday as the stock moved above a key technical level.
Shares of Twitter (NYSE:TWTR) rose about 5.5% at 11:15 AM ET (16:15 GMT).
The stock moved above its 200-day moving average, entering territory it last held at the end of August.
Shares also rose above the psychological $35 level. Closing above that would be a significant bullish signal, according to traders.
How to Day Trade the Best Stocks and Adjust to the Market
The main pillar in this day trading strategy is the general market. What is the current phase of price action on the longer-term charts? For a swing trader this means the previous quarter or 3 months. For a day trader it means the last month, week and yesterday.
We are looking for obvious buying order flow in the market and those stocks that are trading in sync with the general market. These are the best day trading scenarios and have high-probability. Any day trades that do not fit this criteria can still be a good trade, but not necessarily a great trade.
Remember you want to allocate money to great ideas. Even the best day trading ideas will not earn money sometimes, but you never want to accept risk on a weak premise.
Stock Trading Ideas Wednesday 12-12-18
Bullish Cash Flow: EQT, CPB
Bearish Cash Flow: urbn, roku, cbs, kors, aig, nvda, tgt, apa, ntap, sti, slb, dfs, c, pnc, pru, bidu, gs, jpm, v, mar, ms
Bullish Breakouts: AVGO, TWTR, NRG, CL, WEC, ED, DUK, D
Bearish Breakouts: sfix, roku, cbs, kors, tgt, apa, ntap, sti, slb, trgp, bud
Double Average Volume: sfix, yelp, armk, bhp, urbn, docu, well, bud, wtw
Become a Better Trader. Get Notified.
Tape Reading the SPY ETF
SPY ETF finally poised for a clear expansion in volatility. Looks like this time it will give us a few days of clear momentum. Looking for 3 days of well-bid or well-offered price action that can generate this weeks' P&L.
The false breakdown and the support of $264 holding, it looks like a short-covering rally is in order. Generally these types of rallies are quick and vertical. From the long-term bullish side of order flow I don't like that sellers controlled the close again.
Today's game plan is a short-term setup for cash flow.