The futures are basically flat this morning. Trump was impeached yesterday so we’ll see if that has any impact at all today. I am going to keep this part of the plan short and sweet as we have two IPOs hitting the market and I want to get to them here.
Momentum seems to be back in vogue these days, and I like the price action on Twitter (NYSE:TWTR).
The stock initially crashed out on earnings back in October and wallowed in its misery.
TWTR 2-hour chart
It caught my attention by moving up over 3% on the day. It’s getting really close to the high of the range that’s held it back. If TWTR closes solidly above that level, I’ll be looking to buy a retracement. When a stock closes above an obviously important point, that’s a sign it’s saying ‘Hey, I want to move higher because others think so too!’
If price never moves past, then we move on. That’s trading. You keep things on your radar and see what comes out of it.