I am currently watching Twitter ahead of the upcoming earnings. The last strong rise in 23 bars was consolidated for a very long time. The extended Fib would set a target zone of the psychological 100$ mark, which I think is realistic from a purely market-technical point of view. We are currently sitting on a cluster (58$ mark that has held again and again + EMA/MA200 + 61 Fib).
Why the Fib from here and not from the March rise? I personally think it is worth noting here that the BBs are starting to open properly here and FOR ME here the last bull run is starting. If we set the Fib from March, the targets are too far away and this would not be in line with my trading strategy. Maybe quite a good approach for longer term oriented traders.
I would trade the breakout depending on earnings and volume and see how the current market sentiment is. If we see a bullish tech sector (watch the XLK ETF, especially the volume) then I would be compliant with the trade.
Of course, to keep the trade longer, you would also have to watch the behavior of the stock at the ATH. This of course needs to be adjusted to your own trading strategy. For me as a Swing/Positrader no problem. Who trades shorter term, should of course pay attention to his CRV / risk management.
Excuse my English, as a German I give my best :)
Why the Fib from here and not from the March rise? I personally think it is worth noting here that the BBs are starting to open properly here and FOR ME here the last bull run is starting. If we set the Fib from March, the targets are too far away and this would not be in line with my trading strategy. Maybe quite a good approach for longer term oriented traders.
I would trade the breakout depending on earnings and volume and see how the current market sentiment is. If we see a bullish tech sector (watch the XLK ETF, especially the volume) then I would be compliant with the trade.
Of course, to keep the trade longer, you would also have to watch the behavior of the stock at the ATH. This of course needs to be adjusted to your own trading strategy. For me as a Swing/Positrader no problem. Who trades shorter term, should of course pay attention to his CRV / risk management.
Excuse my English, as a German I give my best :)