dailytaguy

TWLO/USD Daily TA Neutral Bullish

NYSE:TWLO   Twilio Inc.
TWLO/USD Daily neutral with a bullish bias. *Twilio has fallen 81% from its ATH ($457.65) and is approaching the end of a massive Falling Wedge from March 2021.* Recommended ratio: 55% TWILIO, 45% cash. Price is currently testing the lower trendline of the Falling Wedge from March 2021 at $100.65 support. Volume has been shrinking since early May as Price trades within the second largest supply/demand zone on the chart; this is mildly bullish as it is indicative of an incoming breakout (due to it being a Falling Wedge the bias is to the upside). Parabolic SAR flips bullish at $105, this is mildly bullish. RSI is currently trending down slightly at 40 as it continues testing 37.47 support for the sixth consecutive session. Stochastic remains bullish and is currently trending up at 85; the next resistance is at max top. MACD remains bullish and is currently trending up slightly at -10; the next likely target is a test of the descending trendline from May 2020 at -4.57 resistance. ADX is currently trending sideways at 33 as Price is attempting to establish support at $100, this is neutral at the moment. If Price is able to defend $100.65 support then the next likely target is a test of the upper trendline of the Falling Wedge at $120-$125 (this is also the largest supply/demand zone on the chart) before potentially breaking out of the formation to the upside. However, if Price breaks down below the lower trendline of the Falling Wedge at $92.60, the next likely target is a test of $70 support. Mental Stop Loss: (two consecutive closes below) $95.50.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.