Shares of Twilio (TWLO) have been edging higher in 2017. Price action has been a roller coaster ride since TWLO went public in July 2016. TWLO 4H Chart 2/8(click to enlarge)Bears Lost Momentum:- We can see that the bearish drive was mostly in October and part of November.- After price fell from almost 71 to 30, TWLO started to trade in a choppy manner, although still making lower highs and lower lows.- Note that the RSI could not hold under 60, which shows loss of the prevailing bearish momentum.Setting up for a Reversal:- The technical picture is still bearish considering the lower highs and lower lows. - However, price is now above the 100- and 50-period simple moving averages (SMAs), as well as a falling resistance.- Furthermore, the RSI has pushed above 70, which suggests that bulls are gaining momentum.- The most recent support pivot is at 28.30. If price breaks below 28.30, our bullish anticipation should be shelved in favor of bearish continuation. - If the market shows respect to 30 on a subsequent dip, it would be a strong signal of a bullish reversal, or a correction.- Another confirmation could be the 4H RSI holding above 40 after a dip. This would reflect maintenance of bullish momentum.- In this bullish scenario, we can look at the 35.00 pivot and then 38.85 pivot as upside targets.