Here is a look at couple social media stocks, FB & TWTR.
After an extended run up from the July earnings report gap, FB pulled back and tested its IPO high of 45. It appears to be setting up for another run up to its previous high near the 54.80 level.
TWTR seems to have found the level near 39 to bounce off from its IPO fade and making its way back toward the IPO high. The recent run up is swift and might need to consolidate a bit in order to put in a sustainable uptrend. The level to watch is near the 46.35, the intraday high of the engulfing candle of the recent inside day price action.
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