Kathy Chen, Twitter’s executive for Greater China, who took the job 8 months ago, sent a tweet during the weekend, stating she had decided to leave the company. A former employee at Microsoft and Cisco, Chen was brought in to popularize Twitter among Chinese advertisers. Although access to the social network has been blocked in China for seven years now, there are business entities, including the state news agency Xinhua, which use Twitter in order to expand their audience internationally. On the other hand, mass users’ preferences still gravitate toward the Sina Weibo microblogging platform and Tencents WeChat messaging app.
Twitter shares recorded their largest daily gain since December 13th on Tuesday, while completely erasing the loss from the preceding trading session. The stock went up 0.86% ($0.14) to $16.44, with the daily high and the daily low being at $16.45 and $16.21 respectively. In the week ended on January 1st the shares of the user service provider lost 1.21% of their market value compared to a week ago, which marked a third consecutive period of decline, but yet, the smallest one since the week ended on December 4th. The stock retreated 11.84% in December following a 3.01% gain in the preceding month. For the entire 2016, Twitter shares lost 29.56%.
According to Chen’s message, Twitter’s advertiser base in Greater China expanded almost 400% during the past two years. This placed China among the companys fastest growing revenue markets in the Asia-Pacific region (APAC).
Among the social networks leading advertisers in China have been Chinese smart phone producer Xiaomi, online shopping giant Alibaba Group, flag carrier Air China and white goods producer Qingdao Haier.
“Now that the Twitter APAC team is working directly with Chinese advertisers, this is the right time for me to leave the company”, Kathy Chen said in her tweet, cited by Reuters.
“We remain committed to this market”, she added, while also noting that Twitters Hong Kong office would continue to service domestic clients.
Daily and Weekly Pivot Levels
With the help of the Camarilla calculation method, todays levels of importance for the Twitter Inc. stock are presented as follows:
R1 – $16.46
R2 – $16.48
R3 (Range Resistance – Sell) – $16.51
R4 (Long Breakout) – $16.57
R5 (Breakout Target 1) – $16.65
R6 (Breakout Target 2) – $16.68
S1 – $16.42
S2 – $16.40
S3 (Range Support – Buy) – $16.37
S4 (Short Breakout) – $16.31
S5 (Breakout Target 1) – $16.23
S6 (Breakout Target 2) – $16.20
By using the traditional method of calculation, the weekly levels of importance for Twitter Inc (TWTR) are presented as follows:
Central Pivot Point – $16.46
R1 – $16.71
R2 – $17.11
R3 – $17.36
R4 – $17.60
S1 – $16.06
S2 – $15.81
S3 – $15.41
S4 – $15.00