Paypal has witnessed quite the depreciation in share value over the last year. We see it all coming to a head after today's close. A wonderful downward Triangle. Within that triangle we have gaps that are outlined in green. There is also a smaller gap on the 1hr time frame that I do believe will be entered once Paypal holds a close over 70. I do use a handful of indicators, but for me, they just simply confirm my ideas and confirm each other. The RSI is showing buying pressure rising. the -DM has been trending downward while the +DM has been rising. ADX is falling which coincides with the ending of a trend, in this case, the -DM.
Move to a 1 hour frame and we have a nice little breakout from the 1D trendline, We see the gap at 70, We see a nice little falling triangle AGAIN formed over the last several days...This is the point where it is my opinion the stock will finally begin to break its major downtrend. Time will tell.
Move to a 1 hour frame and we have a nice little breakout from the 1D trendline, We see the gap at 70, We see a nice little falling triangle AGAIN formed over the last several days...This is the point where it is my opinion the stock will finally begin to break its major downtrend. Time will tell.