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Twitter could increase by 20% to return to the annual maximum: technician



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Twitter finished April as one of the best performers of the S & P 500.

Todd Gordon, founder of TradingAnalysis.com, says the merger is beginning.

"Twitter is a very positive result in a very positive letter. We saw some pretty impressive data after these profits. Revenues increased 18% year-on-year and active users increased fairly well, especially in the United States," he said Gordon on Tuesday at the CNBC "Commercial nation."

Given the strong case, Gordon sees Twitter retreat from the losses suffered during the last half of 2018.

"As we analyze the graphs here, you can see that there is a significant gap here from $ 44 to less than $ 40, so that at the back of this earnings report," he said. "They are trying to close this gap, which is a technical phenomenon that often happens, so that closing the gap will take place around the brand of $ 42.50."

Twitter dropped below $ 40 in a sale at the end of July. You have not closed this level in nine months.

"As I see that this breach is approaching, I think that whenever the global market can maintain its current trend, which happens as we are pushing or with new rates in the indexes, we should be able to close this one distance and 2) try these old masters around the $ 48 mark, "Gordon said.

A return to the highest 52-week high of $ 47.79 represents a 20% growth close to Tuesday. It has fallen 16% since it reached a maximum annual last June.

Gordon is buying the maturity term of the 42/47 call from June 21 for about $ 1.30. This is a bullish play that Twitter reaches above $ 47 per maturity.

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