This Cloud Play Is About To Be A Great Buy
InTheMoneyStocks.com | Apr 24, 2017 01:26PM ET
Just over a week ago, Twilio (NYSE:TWLO) was upgraded by institutional investors. The upgrade was the catalyst for a breakout on the stock chart, sending it from $27 to $34. The benefit of this move was that it took out a major trend line of resistance, clearing a hurdle that has kept the stock under pressure for a long time. Once cleared, the stock is free to continue up. However, first it needs to consolidate, essentially digesting the recent big 25% move. That's where smart investors look for a buy.
So far, the stock has pulled back to a low of $30.21. The key is looking for a retrace into the former breakout trend line. This is known as the scene of the crime (breakout) on the stock. Once there, Twilio becomes a huge buy. Note the chart below.
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