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Technical Analysis with chessNwine

chessNwine
Full-time stock trader. Follow me here and on 12631
Joined Apr 1, 2010
8,861 Blog Posts

Long More of Twitter in Fort Sumter Terms

chessNwine Wed Jun 4, 2014 12:54pm EST 3 Comments

bombardment_of_Fort_Sumter

I added more to my TWTR long from yesterday (reestablished after we closed out a winning trade last week) inside 12631 earlier today.

The stock staged a nice surge within the past hour, taking price over $33. Ideally, we see a close over $33.20.

As far as a target is concerned, the daily chart is showing a subtle inverse head and shoulders bottom, outlined in light blue line. The measured move from the pattern, if triggered, is over $40. A close over $35.14 would trigger it.

My stop is still below $31.

As for my other positions, natural gas is bouncing back nicely so far today. And I cut my biotech short for a loss.

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TWTR

 

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3 comments

  1. lplongo
    lplongo
    June 4, 2014 at 1:59 pm

    Same, liked what I saw yesterday and added slightly different short-term calls . I believe we’ll see the gap fill.

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  2. matt_bear
    matt_bear
    June 4, 2014 at 2:14 pm

    yeah gap fill to 38 is what i’m playing with june 35 calls.

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  3. Romeo Fayette
    Romeo Fayette
    June 4, 2014 at 4:31 pm

    Chess–
    Is $TWTR not a bear flag? Looks like your chart has it marked as a H&S bottom, but looks like a bear flag to me…?

    $CRTO is a more classic H&S bottom, part of why I started buying…
    http://twitter.com/RomeoFayette/statuses/473918762325123072
    http://twitter.com/RomeoFayette/statuses/473919035789553664

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