TWLO plummets, losing $5.63 (-5.45%) within a single day
Twilio Inc. Class A (TWLO) Technical Analysis Report for Dec 02, 2019 | by Techniquant Editorial Team
TWLO finished Monday at 97.65 tanking $5.63 (-5.45%), strongly underperforming the S&P 500 (-0.86%). This is the biggest single-day loss in over a month. The bears were in full control today, moving the market lower throughout the whole session. Closing below Friday's low at 101.81, the market confirmed its breakout through the prior session low after trading up to $6.12 below it intraday.
Daily Candlestick Chart (TWLO as at Dec 02, 2019):
Monday's trading range has been $7.07 (6.89%), that's far above the last trading month's daily average range of $3.38. Weekly volatility is also higher, being slightly above the market's average weekly trading range. The longer-term, monthly volatility is currently lower than usual for TWLO.
One bearish candlestick pattern matches today's price action, the Black Candle. The last time a Black Candle showed up on November 25th, TWLO lost -0.74% on the following trading day.
Twilio closed below the 20-day moving average at 98.66 for the first time since November 14th.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Among the eight market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "Bearish Break through SMA 20" stand out. Its common bearish interpretation has been confirmed for Twilio. Out of 37 times, TWLO closed lower 62.16% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the short side has been after five trading days, showing a win rate of 56.76% with an average market move of -0.99%.