I just went long a starter position in TWTR again inside 12631, at $32.66, with a stop-loss under $31.
I will only add to it on strength, and am playing for continuation of the recent snapback rally after the initial surge and subsequent retracement for what looks to be a higher low.
This is still a badly-damaged chart, which means staying agile and disciplined are paramount to aligning a favorable risk/reward ratio to the trade. In other words, playing for a nice, quick pop while avoiding a big drawdown is the name of the game.
Note the daily chart Bollinger Bands pinched in considerably, below, presaging a large directional move is imminent.
I still view the 50-day moving average, above, as a logical target.
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Starter in the IRA thanks to your laser focus on this one. Much appreciated.
Hah–Thank me if/when it works out, Marc.
My brother in law started his new job there a week ago. He loves it so far. So his happiness and your reading of the chart is what I’m going by.
TWTR has become a really good day trading stock. Nice volume, nice volatility. Not sure I would swing this thing, but good luck to you. I made a ~$1k on it today. Still holding a few shares, but will let go if it makes a new high or if it stalls out here. I thought this thing would have more umpf to it.
Chess, any thoughts on BAC?
Decent over $15.30. Still damaged overall.