Will TWTR break out after earnings, or repeat historic patterns?
TWTR has only been a publicly traded company since 2014, so you may take this with a grain of salt but I trade mostly on longer term historic patterns. TWTR seems to be at a historic resistance price, so I have taken on a small 3-month Exp. Call Credit Spread (which is a Bearish position if you are not familiar with Options).
At this price range, this could be a breakout point, or the pattern could repeat. Take into consideration that TWTR will be announcing earnings October 22nd. A Straddle position could also be a viable option here because of that fact.
With TWTR having such limited history, my overall bias is neutral but holding a small bearish position based on past patterns. If Earnings is positive, I will remove myself from that position and hold off to reevaluate.
I hope someone finds this helpful. Best of luck.
At this price range, this could be a breakout point, or the pattern could repeat. Take into consideration that TWTR will be announcing earnings October 22nd. A Straddle position could also be a viable option here because of that fact.
With TWTR having such limited history, my overall bias is neutral but holding a small bearish position based on past patterns. If Earnings is positive, I will remove myself from that position and hold off to reevaluate.
I hope someone finds this helpful. Best of luck.