If you think you are having a bad day, imagine sitting down at the head of the boardroom table in the Twitter office. It can’t be any fun to be the punching bag for the richest man on the planet.
So what can we believe about Twitter and is there an opportunity here or not?
When we looked at it a few weeks ago (read the article here) we were watching for a confirmation of how the stock would react if the deal went through or collapsed. While there is talk of Twitter suing Musk to force the deal I am pretty sure we can put this into the collapsed category.
But when you look at the chart it tells a slightly different story.
After an initial drop on the news that Musk was backing out, TWTR spent yesterday climbing. This supports the theory that Musk was stirring the pot to create leverage for his deal and artificially pushing the price down. With a clearer path forward (not out of the media madness woods yet) it cold be that TWTR recovers and refills to where it should be. If we see it continue to break through its 10 day and move up this could be a stock to grab.
Ian Cooper is the master at spotting great trades that are discounted due to herd mentality and the overreaction of the media. His Trigger Point Trade Alerts lay out how to find these bargains and confirm that they are ready to recover. Check it out here.
Keep learning and trade wisely,
John Boyer
Editor
Market Wealth Daily
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