Twillo’s stock price showed bullishness after a retest of the previous breakout zone in May 2023. The last quarterly results also led to a positive impact on the stock price and the price surged nearly 50% in May 2023.
Thereafter, the price entered a correction phase forming a channel pattern and slid down forming multiple lower lows and lower highs. The price also seemed to form a bullish flag pattern and declined. However, the sellers are lacking momentum which may invite buying volumes to enter the market if the price surges.
The current quarterly results were disclosed on the 8th of August 2023. The quarterly results outperformed the wall street estimates however, the results could not leave a positive impact on the stock as the stock did not show any major change after the outperforming results.
Twillo Inc. (NYSE: TWLO) offers a cloud-based platform for real-time communications in software applications. The platform has three layers: Engagement Cloud, Programmable Communications Cloud, and Super Network.
Twillo stock derivatives data analysis states that the current implied volatility in the market is 48.73% with an increment of 1.09% in the last trading session. The at-the-money strike price has 506 open contracts on the put side and 1523 open contracts on the call side indicating the dominance of sellers at the current level. The PUT/CALL ratio is 0.58 suggesting an overall domination of sellers in the market as per the data.
Twillo Stock Price Forming A Bullish Flag Pattern Over The Daily Chart
The Twillo share price currently trades at $60.23 and is trying to sustain near the 200 EMA on the daily chart.
The short-term outlook, as per the analysts, states that the stock may remain in the correction phase and keep declining until it remains in the channel. The price may decline forming lower lows and lower highs.
However, the stock may receive buying volume after the breakout of the channel pattern and surge higher. The long-term trend seems to be neutral at the moment as the price is volatile in the long term and may shift its trend to an uptrend after the breakout.
Technical Indicators predict a potential trending move might occur in TWLO Stock
The EMAs analysis shows that the price could not sustain above 50, indicating the dominance of sellers in the short term. Currently, Twillo stock price is trying to sustain near 200 EMA from where the price may get the buyer’s support.
The technical indicators including RSI and MACD opinion rating for the stock is an 8% buy with a weakest short-term outlook on maintaining the current trend.
Conclusion
Twillo’s stock price prediction concludes that the stock price surged 50% in May 2023, after a breakout, and showed good quarterly results, but then entered a correction phase forming a channel pattern. The current quarterly results beat the estimates but did not affect the stock much. The price is near the 200 EMA on the daily chart and may decline further in the channel. The stock may turn bullish after breaking out of the channel. The long-term trend is neutral and volatile.
Technical Levels
- Support levels: $50.16 and $40.97.
- Resistance levels: $70.43 and $77.44.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/08/23/twillo-stock-price-analysis-twlo-preparing-for-a-trending-move/