Greenlight Capital Hedge Fund Manager, David Einhorn gave green light to its traders to buy Twitter shares. This was clear from the letter to the investors.
"We started building a small Twitter position at a price of around $ 21.59 per share." Despite the huge number of users, Twitter is just 2 percent of Facebook's largest social network in the world.
After Mark Zuckerberg announced that he is considering significantly changing Facebook's content, many investors believe consumers who use Facebook for sales will head to Twitter.
When to look for levels for Long?
Currently, Twitter is traded at around $25, at the top of the long-range range that the price has formed over the past nearly three years. 50 and 200SMA are beaten, but we still have no breakthrough at the top of the range. Breaking the $24.90/$26.15 zone will boost positivism and then we can look for a long positioning adjustment.
Source: Bloomberg Pro Terminal
Jr Trader Petar Milanov
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