Twilio Inc.לונג
Twilio is a High Probability Trade
With the stock market bouncing higher off support I felt it would be a no brainer to scan through some chart for some high probability trades. Luckily, I found one... Twilio .
You're Saying buy a Stock up 200%?
Yes, I am saying that buying Twilio isn't all that bad given the set up. Regardless of whether Twilio is up 200% since the March 16 low price action is setting up for further expansion to the upside. See the 4-hour chart below.
Above is the Elliott Wave picture for Twilio . As you can see the move that led to a large GAP is clearly a wave 3. The strength of the move up is undeniable. If you know Elliott Wave you'll know that wave 4's like to consolidate into triangle formations. Here for Twilio, we have just that!
On the daily chart above I have an ascending triangle drawn out. I also highlight how MACD is finally beginning to turn up as price approaches resistance for a forth time in a month.
Price targets are 1) the ascending triangle measured move which equals $232 or 2) Fib level 1.236 measured from the start of wave 1 to the end of wave 3 which equals $272.
I think at this point you know which direction I am leaning. For the record I have bought Twilio stock and will update as I off load my position. Bias: Bullish.
You're Saying buy a Stock up 200%?
Yes, I am saying that buying Twilio isn't all that bad given the set up. Regardless of whether Twilio is up 200% since the March 16 low price action is setting up for further expansion to the upside. See the 4-hour chart below.
Above is the Elliott Wave picture for Twilio . As you can see the move that led to a large GAP is clearly a wave 3. The strength of the move up is undeniable. If you know Elliott Wave you'll know that wave 4's like to consolidate into triangle formations. Here for Twilio, we have just that!
On the daily chart above I have an ascending triangle drawn out. I also highlight how MACD is finally beginning to turn up as price approaches resistance for a forth time in a month.
Price targets are 1) the ascending triangle measured move which equals $232 or 2) Fib level 1.236 measured from the start of wave 1 to the end of wave 3 which equals $272.
I think at this point you know which direction I am leaning. For the record I have bought Twilio stock and will update as I off load my position. Bias: Bullish.
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