Twitter (TWTR): Strong Upside Momentum

Twitter (TWTR) has surged by more than 10.0% so far in December, after a 12.5% rally in November.

Uptrend 2

Twitter (TWTR): Strong Upside Momentum

American social networking service provider Twitter (TWTR) has surged by more than 10.0% so far in December, after a 12.5% rally in November. On December 10, the company initiated an integration with Snap's app, where Snapchat users would be able to share tweets directly to their Snapchat story. It is reported that Twitter will test a similar feature on Instagram.

Source: GAIN Capital, TradingView

From a technical point of view, Twitter (TWTR) maintains its upside momentum as shown on the daily chart. It has broken above its previous high marked in October without showing a bearish RSI divergence. The level at $49.50 might be considered as the nearest support, while the 1st and 2nd resistance are expected to be located at $61.50 and $67.00 respectively.

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