Ok Twitter, what now? Dorsey is finally buying some stock…whether that is to block a takeover is another conversation. Let’s look at the chart.
First we had the earnings gap lower. The post gap high has held.
Then we had another panic gap below support in the 16.20s. We’re still above it for now.
Finally we rallied back to the top of the post earnings range and settling in between.
Now what? Is there any chance this thing firms up?
It’ll be interesting to see, especially given all of the SIZE put sellers in this stock over the last month and a half or so.
I’ll be looking for a strategic entry point over the next few days/weeks. If we don’t get one, so be it.
Trade ’em well