Twitter's Stock Surges In Active Trade a Week Before Bullish 'golden Cross' Pattern Appears

By Tomi KilgoreMarketsMarketWatch Pulse

Twitter Inc.'s stock shot up 5.8% in morning trade, lifting the stock above both its widely-watched 50-day and 200-day moving averages in one fell swoop. Volume topped 9 million shares in less than an hour after the open, compared with the full-day average of 15.8 million shares. The company has not released any news. Based on current trajectories, the 50-day MA is on course to cross above the 200-day MA in about a week, a bullish technical event known as a "golden cross." Many chart watchers view a golden cross as marking the spot that a shorter-term rally transitions into a longer-term uptrend. After the last golden cross on Sept. 6, 2016, the stock soared another 25% before peaking a month later. Twitter's stock has rallied 9.7% year to date, while the S&P 500 has gained 8.9%.

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