PYPL | Accumulation phase and bullish reversal expected
Feb 27 2023 - UTC-5 1:00 PM
BULLISH INDICATOR (Feb 27)
1. The significant support channel between 66.77 and 71.86 has been tested thrice in past 9 months.
2. On Daily and 4H Chart, a Falling Wedge is spotted, which is a reversal pattern.
3. After the bottom is hit, the price stayed sideways (Accumulation phase). So after 4th testing of same support channel bullish reversal is expected.
4. From the last swing high and swing low, the price stayed between Fib level 0% and 50%. If the price will rise upward from 50% level then start of bullish trend is expected.
5. Harmonic ABCD pattern is in formation on Daily chart. Another signal for reversal.
BEARISH INDICATOR (Feb 27)
1. A strong bearish rally hit the significant support channel between 66.77 and 71.86.
2. From the last swing high and swing low, the price stayed between Fib level 0% and 50%. There is a possibility the price can break downwards.
3. No divergence on RCI has been spotted yet.
PREDICTIONS
1. Bullish reversal is expected but will wait to enter the Long trade after bullish reversal is confirmed when price will cross Fib level 38.20% (88.20) upwards.
2. Confirmed Long trade will happen when price will break Fib 50% level (95.34).
3. Possibility of bullish trend with trailing stop loss.
4. If the rectangular box is broken on bearish side then, short trade will be considered below price of 64.60.
BIAS 1 = LONG - PLAN A (@ Pending Buy Stop around 95.34)
BIAS 2 = SHORT - PLAN B, (@ Pending Sell Stop around price 64.60)
BULLISH INDICATOR (Feb 27)
1. The significant support channel between 66.77 and 71.86 has been tested thrice in past 9 months.
2. On Daily and 4H Chart, a Falling Wedge is spotted, which is a reversal pattern.
3. After the bottom is hit, the price stayed sideways (Accumulation phase). So after 4th testing of same support channel bullish reversal is expected.
4. From the last swing high and swing low, the price stayed between Fib level 0% and 50%. If the price will rise upward from 50% level then start of bullish trend is expected.
5. Harmonic ABCD pattern is in formation on Daily chart. Another signal for reversal.
BEARISH INDICATOR (Feb 27)
1. A strong bearish rally hit the significant support channel between 66.77 and 71.86.
2. From the last swing high and swing low, the price stayed between Fib level 0% and 50%. There is a possibility the price can break downwards.
3. No divergence on RCI has been spotted yet.
PREDICTIONS
1. Bullish reversal is expected but will wait to enter the Long trade after bullish reversal is confirmed when price will cross Fib level 38.20% (88.20) upwards.
2. Confirmed Long trade will happen when price will break Fib 50% level (95.34).
3. Possibility of bullish trend with trailing stop loss.
4. If the rectangular box is broken on bearish side then, short trade will be considered below price of 64.60.
BIAS 1 = LONG - PLAN A (@ Pending Buy Stop around 95.34)
BIAS 2 = SHORT - PLAN B, (@ Pending Sell Stop around price 64.60)