Twitter (NYSE: TWTR) Technicals Point to 30%-Plus Rally

Like the story of Icarus from Greek mythology, Twitter (NYSE: TWTR) flew too high and the sun melted its wings. As the post-IPO hype wore off and analysts could not find a path to profits, the stock plunged from a high above $74 in December to a low under $30 in May. Yes, 2014 has been a rough year for the social media stock.

On the way down, TWTR temporarily found support at its post-IPO pullback lows. Surely, that would be the place for everyone who missed the initial run-up to seize a second chance to get in on what was a spectacular early rally. But "bottom fishers" got burned as the stock lost a quarter of its value from there. Eventually, however, stocks do get cheap enough where there is real value for those who can see it.  (more)

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