Market Overview

Twilio Tumbles 20%: The Technical Take

Share:
Related TWLO
42 Biggest Movers From Yesterday
Mid-Afternoon Market Update: Dow Jumps Over 200 Points; Fossil Group Shares Climb On Upbeat Earnings
Twilio: A Real Hyper Growth Company Building A Great Moat (Seeking Alpha)

Twilio Inc (NYSE: TWLO) shares are trading lower by $8.12 (24 percent) at $25.82 in Wednesday session.

The company shocked the Street when after announcing a Q1 EPS beat of $0.02 along with a $3.8 million sales beat, but reduced Q2 adjusted EPS and FY 2017 guidance. The company forecasts wider losses on less revenues for both.

See Also: Twilio's Guidance Cut An Uber Thing, Not Indicative Of Core Business

After being pounded from Tuesday's close ($33.94) all the way to $22.75 in pre-market trading, Twilio's stock found support way ahead of that level off the open at $24.15. The pre-market low exceeded its former all-time low ($23.66) that was made in its first month of trading in June 2016.

So far, the rebound off that depressed level has taken the stock to $26.44, but has fallen back to the $26.00 area. In order to avoid making a new all-time closing low, it would need to end the day above its June 24, 2016 close at $26.30, which was made its second day as a publicly-traded company.

Posted-In: Technicals Intraday Update Movers Trading Ideas

 

Related Articles (TWLO)

View Comments and Join the Discussion!