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Twilio (TWLO) Recently Broke Out Above the 50-Day Moving Average
Twilio (TWLO - Free Report) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, TWLO broke through the 50-day moving average, which suggests a short-term bullish trend.
One of the three major moving averages, the 50-day simple moving average is commonly used by traders and analysts to determine support or resistance levels for different types of securities. However, the 50-day is considered to be more important since it's the first marker of an up or down trend.
TWLO has rallied 6.7% over the past four weeks, and the company is a Zacks Rank #1 (Strong Buy) at the moment. This combination suggests TWLO could be on the verge of another move higher.
The bullish case only gets stronger once investors take into account TWLO's positive earnings estimate revisions. There have been 1 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.
Investors should think about putting TWLO on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.