Twitter's Woes

Unlike BA and CAT, TWTR is not seeing an immediate bounceback following its dismal earnings, revenues and guidance released earlier this morning. Is this the disaster it seems to be? It depends. Note the purple line running through the middle of the chart.This is actually the bottom of a channel which has been in place since the 2016 bottom. What’s more, the channel bottom is a smidge below TWTR’s 200-day moving average at 36.93. If it recovers to 36.93 by the end of the day, no problem. If not, things get very interesting.