PayPal looking good! The ticker broke out of the head and shoulders pattern on the daily chart.
Usually the H&S pattern is a bearish pattern, but in this case, the price has bounced back up upon touch the 226 support level. Price then went and closed above the shoulders of the H&S pattern, negating the pattern. The critical resistance level it closed above is 254.43 (shoulder height).
The 9EMA has also finally crossed over the 21EMA yesterday, which is another bullish indicator.
PT1: 265.54, PT2: 275.37.
Usually the H&S pattern is a bearish pattern, but in this case, the price has bounced back up upon touch the 226 support level. Price then went and closed above the shoulders of the H&S pattern, negating the pattern. The critical resistance level it closed above is 254.43 (shoulder height).
The 9EMA has also finally crossed over the 21EMA yesterday, which is another bullish indicator.
PT1: 265.54, PT2: 275.37.
Trade active:
PT1 hit, I'm still holding the stock as the expected earnings report is out end April / early May - which might cause the stock to run up more. Good luck everyone :)
Comment:
PT2 hit the day before, I'm out