DailyClose
Long

Twilio is a High Probability Trade

NYSE:TWLO   TWILIO INC
With the stock market bouncing higher off support I felt it would be a no brainer to scan through some chart for some high probability trades. Luckily, I found one... Twilio .

You're Saying buy a Stock up 200%?

Yes, I am saying that buying Twilio isn't all that bad given the set up. Regardless of whether Twilio is up 200% since the March 16 low price action is setting up for further expansion to the upside. See the 4-hour chart below.


Above is the Elliott Wave picture for Twilio . As you can see the move that led to a large GAP is clearly a wave 3. The strength of the move up is undeniable. If you know Elliott Wave you'll know that wave 4's like to consolidate into triangle formations. Here for Twilio , we have just that!


On the daily chart above I have an ascending triangle drawn out. I also highlight how MACD is finally beginning to turn up as price approaches resistance for a forth time in a month.

Price targets are 1) the ascending triangle measured move which equals $232 or 2) Fib level 1.236 measured from the start of wave 1 to the end of wave 3 which equals $272.

I think at this point you know which direction I am leaning. For the record I have bought Twilio stock and will update as I off load my position. Bias: Bullish .

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out