TWLO Upgrade, Overlaid on the Technical Set-Up
JPMorgan Chase & Co. (JPM) upgraded Twilio, Inc. (TWLO) to overweight from neutral, and has a 36-dollar price target, which would position the price structure as a substantial base-like, accumulation pattern. (This can be seen on the enclosed daily chart.)
The upturn off of yesterday's low at 26.76 may very well be a successful retest of the Jan low at 26.41, and represents the second price coordinate in a developing Double Bottom in TWLO.
That said, however, TWLO still has plenty of work to do, preserving today's 4.4% up-gap gains, and, thereafter, to claw its way above its down-sloping 20-DMA, now at 29.41.
Time to keep TWLO on our radar screen...