Twitter (NYSE:TWTR) reported earnings of $0.19 per share and revenue of $732 billion, beating expectations of $0.14 per share and $686 billion respectively. This was the first time the group posted a quarterly profit since it was founded 12 years ago.
The stock flew over 20% on the news, trading in the mid-$30s on Thursday morning.
This stock’s consistent bullish pattern has yielded big gains, from our support level / buy zone labeled in November 2017.
In the intermediate term, we expect a minor pullback, as the current cycle completes. In this case, there may be a buying opportunity as the rising phase of the next cycle begins.
The market cycles on the chart below are designated by the purple semicircles at the bottom of the chart.
