TWLO - 1st Rejection from the Resistance
Updated
TWLOTWLO got rejected at ~117.50 today and the daily volume continues to decline. Related to my previous idea, we are still in a downtrend (until proven otherwise). The expanding bollinger band suggests a big swing is imminent. I am on the short-side. As seen in the chart, TWLO has been following clean and stair steps down and after every failure of breaking the resistance, it drops significantly. My target? below $90 in possibly a week's time.
GLHF!
Note
We see clear follow-through with the rejection of TWLO at the downward trendline (Red Line). Ideally, I'd like to see TWLO at the bottom of the Bollinger band for further confirmation by end of week which is a price of around $104-$106.Note
The bear market is also confirmed via the death cross, the crossover of the moving averages of the 50-day and the 200-day. The 50-day moving average is now below the 200-day moving average.Trade closed: target reached
$90 target reached
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