Twilio (TWLO) has been trading in a consolidation range for most of 2017 after a nose dive at the end of 2016. We can see this dramatic dip stall when we look at the daily chart below. Last week, it was trading at a resistance, and we noted that we should respect TWLO's range resistance and anticipate another test of the 26.00 support area. Well, the resistance held, but the market did more than just bring price back to range support.Twilio (TWLO) Daily Chart (click to enlarge)Bearish Breakout:- Last week, TWLO beat earnings forecasts, but missed revenue guidance forecasts.- The market was not impressed apparently, and TWLO plunged so hard, it broke below the range support.- According to the chart, TWLO is a stock with too much downside risk right now, even for a contrarian.- Price was ranging for about 4 months before breaking. We can anticipate at least a month of decline. -