PayPal: Step by Step

PayPal has recently moved one step lower as anticipated, but then entered a sideways motion. We believe that the stock is merely taking a breather here and will soon regain its downward momentum. Below the support at $50.18, the larger correction of the beige wave II is expected to complete, necessitating further significant sell-offs. However, there's a 39% chance that PYPL has already completed the beige wave alt.II at $54.78. In that case, the stock would be working on a turquoise upward impulse, potentially breaking above the resistances at $82.50 and $94.97 ahead of schedule.