Swing Trade Idea – (TWTR) – June 12, 2020
Our bullish trade for Friday, June 12th is TWTR (Twitter Inc). TWTR is part of the Communications Sector (XLC). XLC has experienced a 8.38% gain in the last month and its 1M trend turned bullish on April 9th.
TWTR’s 1M trend turned bullish on May 14th and has recently pulled back providing a good buying opportunity to resistance at $39. With a technical score of 9 (out of 10), TWTR is a very strong stock that will likely continue higher.
As a stop loss, if TWTR were to trade below $29 for multiple days, this would invalidate our analysis and we would focus on cutting losses on the trade. We also consider cutting losses on this options trade if the value of the vertical spread moves above $3.50.