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Twilio (TWLO) Just Overtook the 200-Day Moving Average
Twilio (TWLO - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, TWLO crossed above the 200-day moving average, suggesting a long-term bullish trend.
A useful tool for traders and analysts, the 200-day simple moving average helps determine long-term market trends for stocks, commodities, indexes, and other financial instruments. It moves higher or lower in conjunction with longer-term price performance, and serves as a support or resistance level.
TWLO has rallied 9.6% 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 solidifies once investors consider TWLO's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 1 higher, while the consensus estimate has increased too.
Given this move in earnings estimate revisions and the positive technical factor, investors may want to keep their eye on TWLO for more gains in the near future.