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- 1 TWLO stock price took support near $50.00 and recovered approximately 8% from the lows.
- 2 Twilio stock price is trying to climb above the 50-day EMA.
- 3 Third Quarter Earnings of Twilio Inc. is scheduled for November 8, 2023.
TWLO stock price took support near $50.00 and showed a minor bounce of approximately 8% from the lows.
Buyers trying to push the Twilio stock price above the 50-day EMA to reverse the short-term trend in an upward direction. However, the recent pullback rally lacks strength so it will be difficult for the buyers to regain the EMAs.
In the middle of September, Twilio’s stock price faced rejection from $67.00 and began to decline by forming lower lows. It erodes the majority portions of the gains generated in 2023 and displays a bearish pattern.
TWLO stock price is traded with a bearish bias and retested at the $50.00 level. Luckily, short-term buyers came forward and halted the downfall. Meanwhile, the broader market indices are also recovering so it indirectly impacts the prices of TWLO.
On a higher time frame, the chart pattern of the stock looks bearish but it corrected 27% from the recent high. So, a short-term pullback or consolidation is much needed.
Third Quarter Earnings are scheduled in the coming week so prices might react violently and may create FOMO. But investors should remain calm and wait for the confirmation of reversal before building up any position.
Will TWLO Stock Price Continue to Recover After Earnings?
TWLO stock price looks oversold and buyers are trying their best to rebound to bring back the confidence of the investors. Twilio Inc. scheduled the Q3 Earnings for November 8, 2023.
Market analysts predicted an EPS of $0.371 and revenue of $989.939 Million. By analyzing the historical earnings, we may say that the company is likely to beat the estimates.
So, Twilio’s stock price might react positively, and pull pullback rally might continue to $67.00. However, if a company disappoints in Earnings, then recent gains might vanish.
Twilio Stock Price Fell For Seven Consecutive Weeks
Twilio stock price fell for seven consecutive weeks and eroded a big portion of the market capitalization.
In the last week, the stock price formed a bullish engulfing candle by taking support near the demand zone. It triggers mild positive sentiment and creates hope for recovery.
The MACD curve is reversing upward and positively intersects the moving average. It indicates bullish momentum might continue in the coming week. The RSI at 48 pointing upward denotes strength and more room for upside is open.
Conclusion
TWLO’s stock price is recovering by taking support near its long-term demand zone. If Q3 earnings were positive and the company succeeded in beating the analysts’ estimates. Then recovery might continue to $60.00 and above.
The analysis suggests Twilio’s stock price is oversold and getting ready for the pullback rally.
Technical levels
- Resistance levels: $60.00 and $67.60
- Support levels: $49.87 and $44.85
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
