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ChristosTrader

TWLO Upside price destinations based on fibonacci levels

Long
Twilio Inc. (NYSE:TWLO)  
ChristosTrader Updated   
NYSE:TWLO   Twilio Inc.
Trend Analysis Fibonacci Parallel Channel longposition
3
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trendanalysis fibonacci parallelchannel longposition
Based on recent major price swings I used the fibonacci tool on the chart to predict possible price destinations in an uptrending action for this stock. Going long from this level requires some risky trailing stop distance from price action due to the volatility.
Comment:
The price action is now back inside the narrow up-trending chunnel shown that runs from as early as 2018 as shown.The arrow points to a fibonacci level as shown and indicates that it is an important level so cousion must be observed. A shakeout at this level could be antisipated so a stop loss order is reccomended below this levels of consolidation price action. If the price action followes upwrd into the channel after this consolidation bool flag just keap raising the stop loss level as price goes up.
Comment:
Just broken through the boolflag but with a red candle we need a follow through to confirm continuation to the upside and see if it will follow the uptrending channel.So far so good its been holding inside said channel despite the big meltown last thursday!
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