Forget Facebook—Twitter could see a 25% boost on earnings, says chart watcher $FB $TWTR (via TradingNation)
"I really like Twitter," technical analyst Mark Newton said Tuesday on CNBC'sNewton, who is president and founder of Newton Advisors, pointed to Twitter's five-year chart, which showed the stock entering a period of consolidation after strong performance in 2016 and 2017.
"I do still think it has upside to former highs right near [$]218," he said. But Twitter remained his top pick, mainly because of its potential to run over 25% to a new 52-week high. "Contrary to popular perception, Facebook has actually increased its engagement, partly because they did a very smart pivot to, essentially, running a mini TV channel on the feed," he said in the same "Trading Nation" interview.
"I just don't like Twitter on business grounds, even though I absolutely love the app," he said. "And I love Facebook [from a] business point of view. So, I think Facebook still has [a] chance to go to fresh highs, whereas Twitter is going to lag."
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