Still Sounds Like a Bird

It has been a while since we highlighted Twitter's stock, not because there was anything to hide but rather because the name was simply grinding sideways and falling through the cracks of the market as a whole. And, yet, there is no denying that the stock has come a long way since sipping into the mid-teens a few years back during a botched M&A exploratory process, among other unflattering management issues. 

TWTR is well off its late-2013 all-time prior highs, not to mention the mid-2018 highs in the upper-$40s. However, the latest consolidation should bring the stock back into focus as we zoom towards earnings at the end of this month. And what better time to update the chart than on a slow market morning (save the Bitcoin proxies like MARA RIOT).

On the zoomed-out TWTR daily chart, below, we see the stock bumping its head against the key 200-day moving average (yellow line). The 200-day also represents resistance of a multi-month triangle consolidation forming. The stock has made lower highs but also higher lows, in other words, since last December. 

There is nothing wrong with waiting until the next earnings report and the subsequent reaction before truly deciding if TWTR about to embark on another leg higher. However, if bulls can make a push back over $35 before the report it would not surprise me to see the name catch momentum again as it is still a stock which many people doubt due to how may were burned on the slide from 2014-2017.