When looking for quick trade opportunities like weekly option plays, or “Yolos” or “Lotto Trades” or “WTF Do I Care It’s Only Money” trades, this setup in Twitter serves as a good example.
Highlighted is a gap on on heavy volume back near the middle of February. Since then, TWTR has pulled back into the price area in which that same gap occurred. Often, you will find that buyers strongly defend that area. In this case, I think we see that area defended and will break out above this consolidation area to make a move back towards $35.
Long next weeks $TWTR $33 weeklies.
OC