Twitter Gives Us 9% Trade in 1 Day
by Mike Paulenoff
April 19, 2014 • 12:00 AM EDT
This past Tuesday, April 15, we noted to members that Twitter (TWTR) "has the right look of a pattern that has ended a major corrective period -- from its Feb 5 high at 71.92 to its April 11 low at 39.68." We said it was "entering a recovery rally phase that should return the stock to 49.00-50.00 in the days/weeks ahead."
We entered a short-term portfolio position at 41 1/2 and exited the same day at 45.03, for a 9 percent gain.
Below is our chart from Tuesday. We're continuing to follow TWTR looking for another long opportunity.
Mike Paulenoff is the author of MPTrader.com, a real-time diary of his technical analysis & trade alerts on
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