Hitting moving average and failed. RSI shows that the recent rally was a bear market rally. Good candidate to short with good RR. First target the yelow zone (although it can drop lower). Still a long way to fall. Long-term chart looks bad too. I will never long NASDAQ:PYPL
Trade active
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Forgot to add an additional clue to support my analysis. The 67.5 area was a support turned resistance line. This line has been tested twice as resistance and failed. I remain short on PYPL.
I highly recommend you short it with every penny have in the bank. Shoot sell all your positions and short like your life depends on it. You can do this. PayPal to $30. Forward P/E of 12 is too high for it. Shoot for this sector it needs to be a forward P/E of 3 or 4
TraderBwater
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@alhamsn, Nobody says Paypal will drop to 30$. If you want to criticize, at least read what I said in the post first.
alhamsn
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In all honesty you kind of just drew where wanted the price to go on nothing at the time even the chart looked beyond bullish so yea you will receive criticism. If it was based on the future earnings, fundamentals or anything I would have had been like respect, but you are kind of bearish just for the heck of it.
without_worries
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Careful, it is about to start a run to $300
TraderBwater
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@without_worries, yes a reversal is possible and likely here. I agree. How high I don't know. I appreciate your comment. Thanks.