Since the powerful April 23rd breakout TWTR has gone nowhere.

Gap support($34.60) has held up nicely=multi week June lows.

Selling pressure has dried up over the last two weeks.

A close above $37.00 would clear a key overhead trend line(links May/June highs).

A close back below last week’s low($35.20) would indicate more basing will be needed before TWTR can begin a fresh rally leg.

We are watching the action closely.

At time of publication we are long TWTR in most managed accounts.