2 Underdogs Show Some Fight

The U.S. soccer team lost to Germany in the World Cup today but moved to the next round, so traders are feeling a bit better and cutting losses down to very little. Not that I think World Cup games have that much influence on trading, but I just wanted to beat others to expressing the idea. We're always looking for reasons. Traders need it daily just to cope with any move. Ironically, the reason is not often the real reason, but we perceive it that way, so it becomes a valid reason. In simpler terms: don't overthink it.

Twitter (TWTR) has been enjoying a heck of a month, coming from sub-$32 and now posting above $41. After spending the last week consolidating, the stock looks ready to make one more push. I believe the $44-$47 area will be the next area of consolidation. There may still be some April holders looking to get their money back -- even some March buyers, for that matter. As long as $39.50 holds on a closing basis, I see no reason to be short. The RSI is very strong and leading the stock. While MFI has regressed a bit, we moved from nearly oversold to heavily overbought. As long as price holds and MFI doesn't go below $60, the bullish setup is still very valid....143 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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