TWLO ends the day on a bullish note closing near the high of the day
Twilio Inc. Class A (TWLO) Technical Analysis Report for May 22, 2020 | by Techniquant Editorial Team
Moving higher for the 3rd day in a row, TWLO finished the week 10.25% higher at 208.62 after gaining $14.62 (7.54%) today, notably outperforming the S&P 500 (0.24%) ahead of tomorrow's Memorial Day market holiday. Today's close at 208.62 marks the highest recorded closing price ever. Ending with a strong close near the high of the day sets a bullish note for the next session.
Daily Candlestick Chart (TWLO as at May 22, 2020):
Friday's trading range has been $13.39 (6.69%), that's above the last trading month's daily average range of $9.77. Things look different on the weekly timeframe, where the market's trading range of the last week has been slightly below the market's average weekly trading range. The longer-term, monthly volatility is currently significantly higher than usual for TWLO.
One bullish candlestick pattern matches today's price action, the White Candle. The last time a White Candle showed up on Wednesday, TWLO gained 1.09% on the following trading day.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Among the five market conditions that our pattern recognition engine identified today, the statistics for the Price Action based market condition "Close near high of period" stand out. Its common bullish interpretation has been confirmed for Twilio. Out of 202 times, TWLO closed higher 55.45% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 58.91% with an average market move of 4.10%.