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In the pre-market trading session, Twitter’s stock was trading at 33.74-lower by 1.32% as compared to the previous closing price.
Investment bank UBS downgraded the social media company’s stock to neutral from buy. The investment bank downgraded its ratings saying the company’s ongoing investments into security, safety, and ad technology will act as earnings headwind for the current year. UBS also lowered its price target to $35 a share from $37 per share.
The investment bank had a buy rating on stocks of Twitter since April 2018. UBS also expects that the social media company’s management is likely to persist with investment around security/safety and ad tech stack. Stocks of Twitter have declined 13.7% over the past three months through Thursday. The social media company is scheduled to report its quarterly earnings before the market opens on 6th February.
On the technical front, the current price is above the MA5. The current price is above the upper band of the Bollinger Bands but is heading downwards. The stock is expected to trade lower today.
TRADE SUGGESTION- LIMIT SELL AT 33.80 TAKE PROFIT AT 33.20 STOP LOSS AT 34.10