Swing Trade Idea (TWTR) – August 31, 2021
Our bullish trade for Tuesday, August 31st is TWTR (Twitter Inc). TWTR is part of the Communications Sector (XLC). XLC has experienced a 3.5% gain in the last month and its 1M trend turned bullish on August 23rd.
TWTR’s 6M trend turned neutral on August 27th and has recently pulled back providing a good buying opportunity to resistance at $72. With a technical score of 3 (out of 10), TWTR is a weak strong stock that will likely rebound to continue higher from current levels.
As a close, if TWTR were to trade below $61 for multiple days, this would invalidate our analysis and we would focus on cutting losses on the trade. We also would consider cutting losses on this options trade if the value of the vertical spread moves below $1.08.
