TWITTER PLUNGES AFTER IT SAYS EXPENSES WILL INCREASE SHARPLY
Twitter is currently trading at 30.84-lower by 9.73% as compared to the previous closing price.
The company on Thursday reported fourth-quarter earnings and revenue that topped market expectations. Shares of Twitter, however, fell after the company provided light guidance and said it expected expenses will rise 20% this year.
Twitter generated EPS of 31 cents for the fourth quarter. The EPS was above the consensus estimates of 25 cents. The company brought in $909 million in revenue for the quarter, above the market expectations of $868.1 million.
The company said it expects its cash operating expenses to rise about 20% on a YoY basis in 2019 to bolster its initiatives across health, conversation, revenue product, sales, and platform.
On the technical front, the current price is below the MA5. The current price is below the middle line of the Bollinger Bands and is heading downwards. The RSI is currently at 45.49% and suggests that the market can move in the downward direction.
TRADE SUGGESTION- LIMIT SELL AT 30.95 TAKE PROFIT AT 30.35 STOP LOSS AT 31.25