TWTR: I’m A Long-Term Investor Since 20 (PART 5)

THE SETUP

I’ve been long on Twitter since 19.51, and been buying the dips ever since.

Below is the chart was my latest setup just about a month ago when I was accumulating TWTR SHARES with size.  As you can see that the moving average (light blue) has been served as strong pivot (resistance and support – see arrows).  In April of this year, price broke higher after earnings report but it retraced back to retest the moving average subsequently.  And I believed, at that time (when it retraced back to retest the moving average), that the level (just past June) was going to be served as strong support and that’s when I was aggressively accumulating more SHARES on TWTR.

TWTR WEEKLY-CHART LATE JUNE

TWTR reported earnings just past Friday morning, and the stock soared almost +10% in one day.

And as you can see the level (the moving average – see arrows) held as strong support and bounced right on that level.  TWTR had a long consolidation period in the second half of last year and first half of this year; and this move definitely signifies as a breakout after a long consolidation period in the last 1-year period.

So where do we go from here?  Let’s check the long-term trend next.

TWTR WEEKLY-CHART TODAY

LONG-TERM TREND

Here are few things going on:

• TWTR is attempting to break out of this long-term resistance as you can see in the chart below (see arrows)
• The indicator showing the momentum is continuing to the upside as the stock is cultivating primary-term uptrend

So, little bit of mixed signal here in the long-term.  We will have keep an eye on this resistance for the next few months and see how it reacts in this vicinity (remember, below chart is monthly so it will take sometime before the resolution).

TWTR MONTHLY-CHART

HOLDINGS STATUS

I have not unloaded any of my SHARES but holding all of my SHARES since my first entry back in 19.51 (TWTR has risen +110% since my first entry).

I’ve been buying every dip I could find ever since and the recent heavy entry at 35.09 in June seems to be playing out well after the earnings report just past Friday – TWTR is now the largest holdings in my portfolio.

As I’ve been saying, I think TWTR is ultimately going to $100 per share.

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