Jim Cramer told viewers during Thursday's Mad Money program that investors are latching onto any reason to buy stocks. Many feel that April was the bottom for most industries, while others are betting on crude oil's steady climb from its lows.
Others, as Cramer discussed in his Real Money column "The Hope Is Real", are taking cues from stocks like Twilio Inc. (TWLO) , which shocked Wall Street with terrific earnings that sent shares surging Thursday and again Friday.
Let's check out the charts and indicators of this cloud communications platform.
In this daily Japanese candlestick chart of TWLO, below, we can see that prices were in a downtrend from July to the middle of March. The stock rallied in late March and then corrected in early April before the start of the current upside run. Prices moved above the bottoming 200-day moving average line early this month and the slope of the 50-day moving average line turned positive.
The trading volume surged sharply and prices gapped higher Thursday. The daily On-Balance-Volume (OBV) line jumped to a new high for the move up and the Moving Average Convergence Divergence (MACD) oscillator continued its positive trend.