Today, TWTR broke through some strong resistance on the 5-minute chart at the 19.59 level. It has stabilized and continues to climb. As such, my stop from yesterday at the 18.75 level seems low. I am placing my next stop at the 19.30 level because this is under a couple of support levels TWTR has bounced off of on the 5-minute chart today.
I am still confident in this trade, otherwise I would put a tighter stop. I will have to start thinking about where TWTR might pull back from this almost 10% streak it's been on since 3AUG -- the debate will be whether to exit the trade or ride out a pull back for a longer term hold.
I am still confident in this trade, otherwise I would put a tighter stop. I will have to start thinking about where TWTR might pull back from this almost 10% streak it's been on since 3AUG -- the debate will be whether to exit the trade or ride out a pull back for a longer term hold.
