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TWLO stock price fell 1.09% intraday on Thursday and closed at $55.41. - 2
Twilio Inc. stock (NYSE: TWLO) fell below the key exponential moving average of 50-day and 200-day. - 3
Twilio Inc. is yet to announce its third quarterly results on Wednesday, 8th November 2023.
Twilio Inc. (TWLO) stock price slipped 1.09% in intraday on Thursday and closed at $55.41. The stock price exhibits a consolidation of over 28 intraday sessions. The price currently hovers near the recent swing low and faces selling pressure below the 50-day EMA.
Twilio Inc. is yet to announce quarterly results on Wednesday, 8th November. Due to this, the stock price may turn volatile. The analysts are estimating the revenues to be around $989.94 Million and expecting the company to show earnings of $0.371 Million.
TWLO Stock Price Analysis Over Daily Chart
Twilio stock price trend analysis over the daily charts shows that the stock price has support zones near the $50 and $55 levels. The stock price also suffered multiple rejections from an upper trendline resistance and declined. The breakdown of the recent support may drag the price to the lower support levels.
The technical indicators imply that the TWLO stock price fell below the 50-day EMA indicating a bearish dominance in the short term. Moreover, the 200-day EMA is currently above the 50-day EMA indicating a bearish outlook in the long term.
Twilio Stock Price Analysis Over Weekly Chart
The weekly TWLO price chart witnesses the formation of a symmetrical triangle pattern. The TWLO stock price has been on a losing streak for five weeks after the price suffered rejection from the upper trendline resistance.
The price may slide to the lower trendline of the symmetrical triangle pattern if it breaks below the $55 level.
The overall technical opinion rating including RSI and MACD signals an 88% “sell” with a strong short-term outlook on maintaining the current direction.
The analysts offering a 1-year price forecast for the Twilio stock have a maximum potential of 98.52% on the upside which could lead the price to a high of $110. The minimum estimate of the analysts expects a drawdown of 9.76% from the current price and drags the price to a low of $50.
Conclusion
Twilio Inc. (TWLO) stock price is consolidating near the recent low and faces selling pressure. The company will announce quarterly results on November 8, which may cause volatility. The analysts expect revenues of $989.94 Million and earnings of $0.371 Million. The stock price has support zones near $50 and $55 and resistance from an upper trendline.
The breakdown of the recent support may lead to a further decline in the lower levels. The technical indicators show a bearish outlook in both the short and long term. The analysts’ 1-year price forecast ranges between $50 to $110, with a maximum potential of 98.52% on the upside.
Technical Levels
- Support levels: $55.4 and $50.09
- Resistance levels: $59.2 and $67.40
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.
Source: https://www.thecoinrepublic.com/2023/10/20/twilio-stock-price-accumulates-near-recent-low-whats-next/