TWITTER PROFIT BEATS ESTIMATES, STOCK SPIKES
Twitter’s stock is currently trading at 37.75-higher by 9.77% as compared to the previous closing price. In the Premarket trading session, the stock was trading higher by 8.14%. The stock has continued gaining after the opening bell.
The company reported its earnings for the first quarter before the market opens on Tuesday. Twitter generated an adjusted EPS of 37 cents for the first quarter of 2019. The EPS was above the consensus estimates of 15 cents. Revenue of $787 million was also above the market expectation of $776.1 million.
The company reported 330 million monthly active users (MAUs) (excluding SMS users) for the first quarter. The MAUs were above the median forecast of 318 million. The company expects $770 million to $830 million in revenue for the second quarter. The markets expected $783.9 million to $853.6 million in revenue for the quarter.
On the technical front, the current price is above the MA5. The current price is above the upper band of the Bollinger Bands and is heading upwards. The RSI is currently at 76.09% and suggests that the market can move in the upward direction.
TRADE SUGGESTION- STOP BUY AT 37.85 TAKE PROFIT AT 38.25 STOP LOSS AT 37.65