Price has broken the bottom trendline of the Rectangle which is also a possible short entry level.
I see a lot of stocks in rectangles at the bottom but there are still some rectangles at the top. For many at the bottom, there is also a channel down imposing another diagonal resistance trendline that price has to break to get anywhere.
Many securities in this situation do not have the momentum to break the channel down resistance line so they are breaking the support line of the Rectangle.
TWLO is another example of this situation. TWLO is trying to make higher lows and there are spinning tops, a doji and a baby inverted hammer down there on top of an slightly upsloping trendline that is forming a very small triangle like structure. The spinning top I see right now keeps changing back and forth between red and green.
TWLO is fighting right below the .886 Fibonacci Level of the entire trend up and these levels can also impose support and resistance levels.
That makes 3 resistance levels very close to price. Support and Resistance levels were made to be broken but TWLO has it's work cut out for it to dig it's way out of this hole.
ATL is 22.80.
Earnings for Twilio are expected to grow in the coming year, from ($4.27) to ($4.17) per share. Twilio has not formally confirmed its next earnings publication date, but the company's estimated earnings date is Wednesday, October 26th, 2022 based off prior year's report dates. TWLO has a history of earning beats in the past.
Since this is below the rectangle support line, short entry level was activated. The other requirement of a confirmed downtrend for a short entry (ES) may be questionable right now so I will mark as neutral until that trendline is broken. Price is trying hard down there and that green trendline is acting as support for now.
The .886 is a low place to be, but TWLO has some friends in these low places as well. )o:
No recommendation.
Don't lose your shadow.
I see a lot of stocks in rectangles at the bottom but there are still some rectangles at the top. For many at the bottom, there is also a channel down imposing another diagonal resistance trendline that price has to break to get anywhere.
Many securities in this situation do not have the momentum to break the channel down resistance line so they are breaking the support line of the Rectangle.
TWLO is another example of this situation. TWLO is trying to make higher lows and there are spinning tops, a doji and a baby inverted hammer down there on top of an slightly upsloping trendline that is forming a very small triangle like structure. The spinning top I see right now keeps changing back and forth between red and green.
TWLO is fighting right below the .886 Fibonacci Level of the entire trend up and these levels can also impose support and resistance levels.
That makes 3 resistance levels very close to price. Support and Resistance levels were made to be broken but TWLO has it's work cut out for it to dig it's way out of this hole.
ATL is 22.80.
Earnings for Twilio are expected to grow in the coming year, from ($4.27) to ($4.17) per share. Twilio has not formally confirmed its next earnings publication date, but the company's estimated earnings date is Wednesday, October 26th, 2022 based off prior year's report dates. TWLO has a history of earning beats in the past.
Since this is below the rectangle support line, short entry level was activated. The other requirement of a confirmed downtrend for a short entry (ES) may be questionable right now so I will mark as neutral until that trendline is broken. Price is trying hard down there and that green trendline is acting as support for now.
The .886 is a low place to be, but TWLO has some friends in these low places as well. )o:
No recommendation.
Don't lose your shadow.
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