TWILIO and the Nasdaq 100

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Twilio is a clear example of the “mismatch” suffered by many in the technology sector.

Although the Nasdaq 100 is currently trying to reach new all-time highs, Twilio is struggling to avoid setting new annual lows. The stock has been punished by more than 40% since its highs, a violent correction that has taken it to levels not seen since the end of 2020. The 240 dollars are now the next major support to watch. Its loss would leave the stock in a relative free fall phase, a scenario likely to develop a new corrective stretch towards its next structural support around 220 dollars, although a further extension towards 185-180 dollars would not be ruled out at all. On the upside, 280 dollars is undoubtedly the resistance to beat. Its overcoming would trigger the upward perforation of its medium-term bearish channel, a potential bullish turn signal that could trigger a new upward recovery leg with a target at 340 dollars (upper part of the violent bearish breakout gap left at the end of October).

Resistances: $280, $295, $315, $340.

Supports: $249, $240, $220, $200.

Targets: (Bullish) $280, $300 (baj) $220, $200, $185-180.

Trend structure in TWILIO:

  • Short term: Bearish.
  • Medium term: Neutral-bearish.
  • Long term: Bullish.

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