Twitter Inc (NYSE:TWTR) stock jumped 3.5 percent on Wednesday after a report by Bloomberg indicated the social media giant has been experimenting with more ads on its platform.

Tweaking Ad Load

The Bloomberg story comes after several journalists reported seeing more ads than usual on their Twitter feeds this week. On Tuesday, a Twitter spokesperson confirmed the company has been testing changes to its ad load.

“We are always running experiments with our ad experience, including with the various aspects of ad frequency and targeting,” the company said in a statement, according to Bloomberg.

Twitter users’ ad loads vary depending on a number of factors, and not all users may be experiencing more ads. However, investors seem to be optimistic about the impact a potentially heavier overall ad load could have on Twitter’s ad revenue. Advertising is by far Twitter’s largest source of revenue.

Technical Bounce

If Twitter continues to consolidate in its post-earnings range between $36.50 and $41, traders should look for a break-out to new highs above $41 on high volume as a signal the stock has begin its next leg higher.

At the same time, a breakdown below $36.50 on heavy volume could mean the stock is headed to $34.50 to close its earnings gap.

The stock traded around $38.60 per share at time of publication.

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