Possible stop below D. Earnings November 1st AMC.
Looks like a Gartley pattern. First introduced in 1935 by trader H.M. Gartley in his book, “Profits in the Stock Market” The Gartley pattern normally forms when a correction of the overall trend is taking place and look like a crooked ‘M’. The bearish version looks like a crooked W. The pattern contains a bullish or bearish ABCD pattern, but is preceded by a point (X) that is below point D.
Move AB should be the .618 retracement of move XA. Move CD should be .786 retracement of move XA. PYPL did reverse at the .786.
No recommendation
Price is still below the 50 SMA which is a bit droopy. The longer term 200 SMA is sloping up.
Yesterday there was a bullish engulfing candle which swallowed the red candle from the day before. The body of the red Doji candle is totally contained within the green engulfing candle . Today with another green candle and a higher price, some would call the candle pattern 3 outside up which can serve as confirmation of yesterday's Engulfing candle.
Gap down above price which may cause resistance.
Looks like a Gartley pattern. First introduced in 1935 by trader H.M. Gartley in his book, “Profits in the Stock Market” The Gartley pattern normally forms when a correction of the overall trend is taking place and look like a crooked ‘M’. The bearish version looks like a crooked W. The pattern contains a bullish or bearish ABCD pattern, but is preceded by a point (X) that is below point D.
Move AB should be the .618 retracement of move XA. Move CD should be .786 retracement of move XA. PYPL did reverse at the .786.
No recommendation
Price is still below the 50 SMA which is a bit droopy. The longer term 200 SMA is sloping up.
Yesterday there was a bullish engulfing candle which swallowed the red candle from the day before. The body of the red Doji candle is totally contained within the green engulfing candle . Today with another green candle and a higher price, some would call the candle pattern 3 outside up which can serve as confirmation of yesterday's Engulfing candle.
Gap down above price which may cause resistance.