Twitter (TWTR) reported earnings of $0.19 per share and revenue of $731 billion, both which beat expectations of $0.14 per share and $686 billion respectively.
TWTR flew over 20% on the news, trading in the mid-$30s on Thursday morning. This was its first time posting a profit in 12 years.
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 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.
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