2 Bullish Stocks: Twitter (TWTR) and Michael Kors (KORS)

Today I want to share 2 trading setups that I have my eye on. The stocks are Twitter (NYSE:TWTR) and Michael Kors (KORS). Charts and commentary are below. Twitter (TWTR): The company needs no introduction as most of the fintwit people thrive on this platform. The company has a market cap of $34 billion. The company reports earnings on July 25thbefore market open and the short float for the stock is 6.17%. January 2019 – 70 calls were bought today (June 26th) although there has been constant buying in this name. After the recent run to make a 52 week high, the stock has been consolidating on lower volume to let the short term moving averages catch up with price. Stock is holding both its 8 EMA and 10 EMA on…
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S&P 500 Technical Update: 4 Reasons For Caution Into Month End

The S&P 500 (NYSEARCA:SPY) had been consolidating to form a bull flag at the 2780 zone… until additional trade war related news between the US and China took center stage once more. The reaction to the news was that price broke intermediate and important price support levels around 2751-2740 on the S&P 500 Index. Range expansion to the downside took price down to an important support level on the daily chart – 2700, which also marks the 50 SMA on the daily chart. This support held. Quite a bit of technical damage occurred on this move lower but there is some positive divergence on Williams %R, a momentum indicator. Price confirmation one way or the other is required on Wednesday June 27th with month end and quarter end looming. So what gives?…
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