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Twitter (TWTR) - Get Twitter, Inc. Report began Thursday's session with a huge earnings-inspired breakdown gap. The stock's 13% drop had pushed shares to new July lows, leaving behind an ominous high in the process. More downside is likely as this collapse plays out, but for patient investors, a low-risk entry opportunity will be the result.

Thursday morning's flush is a sharp reversal from last week's positive action. One week ago, Twitter was hitting new 2017 highs as the big rally off the June lows stretched to 30%. The June low, which held an important level, marked the bottom of the pullback that followed Twitter's last earnings report. The stock appears headed for a retest of the June lows. Will this level, just above $16.00, mark another post-earnings low?

In the near term, Twitter investors should expect further downside. A drift back down to the $16.30 to $16.00 area will retest a very solid support zone. Twitter held this zone at its October and December lows of last year as well as the January and June lows in 2017. If shares can regain their footing here, a low-risk entry opportunity will develop. On the downside, if the $16.00 area is clearly taken out, more downside is ahead, which could carry the stock back down to its huge April 26 post-earnings breakout gap at $14.95.

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The author is an independent contributor and at the time of publication had a long position in Twitter.