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TWITTER STOCK FALLS AS EXECUTIVES OFFERED FEW SIGNS OF RECOVERY IN ADVERTISING BUSINESS -

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    • TWITTER STOCK FALLS AS EXECUTIVES OFFERED FEW SIGNS OF RECOVERY IN ADVERTISING BUSINESS
30-Apr
19:40 IST

Twitter’s stock is currently trading at 30.36- lower by 2.35% as compared to its previous close. In the pre-market trading session, the stock was trading lower by 6.24%. The stock has pared some of its earlier losses after the opening bell.

The company reported its first-quarter revenue and earnings before the market open on Thursday. Twitter generated an EPS of 11 cents for the first quarter. The EPS was above the consensus estimates of 10 cents. The company brought in $808 million in revenue for the first quarter. The revenue was also above the market expectation of $770 million.

The company did not provide any guidance for the second quarter due to uncertainty surrounding the current business environment.  Stocks of the company dropped as executives offered few signs of recovery in its advertising business. Twitter still expects stock-based compensation to rise sequentially in the current quarter by at least 25%. Stocks of Twitter have fallen about 9% Year-to-date.

On the technical front, the current price is above the MA5. The current price is above the middle line of the Bollinger Bands but is heading downwards. The RSI is currently at 58.12% and suggests that the market can move in the downward direction.

Overall Bias is Negative and short-term trades can be initiated with tight Stop Loss and Profit target.

 

TRADE SUGGESTION- LIMIT SELL AT 30.40 TAKE PROFIT AT 29.40 STOP LOSS AT 30.90

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