We last looked at shares of Twilio (TWLO) on June 16 and wrote that "Traders could try the long side of TWLO again at current levels risking to $278. $366 and then $425 are our nearest targets. $502 is our longer-term objective."
TWLO rallied into late July and stopped short of our $425 target price. A pullback played out into early October but has stayed well above our $278 sell stop suggestion. Let's see where we go from here.
In the updated daily bar chart of TWLO, below, we can see that the shares have surged upwards in recent days to cross above the 50-day average line but so far stop short of crossing the 200-day line.
The On-Balance-Volume (OBV) line shows improvement from the middle of September and the downtrend from February looks like it will soon be broken. The Moving Average Convergence Divergence (MACD) oscillator has crossed to a cover shorts buy signal.