Target of 128 if the support line remains unbroken - well see how ER affects this.
If this stock could cross above $121, probably the price would go and reach its bullish channel's resistance at around $127 within 12 trading days.
PayPal broke to the downside, then bounced up on a strong upside market day. However, the gain of the bounce is weaker in volume and price pattern than the previous downside black candlestick. It has weak support to the downside all the way to the red line.
Chart says it. We just made a new high which for me means look for signs of trend reversal. As I've said before trend reversal starts when you start closing below levels that brought you to your most recent high. Im looking to get short, if that wasn't made clear. Not financial advice. Trade safe.
PYPL has risen out of a short-term bottom that completed in February to reach new highs. The stock may shift sideways soon to pattern out speculative price action.
OPTIONS PLAY: LONG PUTS or sell calls. Entry: $108.97-$110.00 Target: $90. Keep an eye on the sub wave 1-2 extension at $110 at 3.0. A blow past the green zone will have to reconsider the count. Puts 2 months out, cant go tits up. This is a close-up of the larger wave 3, see my long term chart for this. The EW count suggests we are at the top here and about to...
Made a VISA chart to compare against my paypal TA. very similar wave structure, but paypal will have more volatility. See my short term PYPL chart for entry targets. Looking at major indexes (SPY/ DJI), the top is close. Whether youre a bull or a bear, the top of this 2019 rally is close... Algos will certainly be selling the ATH's if we even get that close....
See my near term chart for wave 4 breakdown.
STNE position open $34.40 Stoploss $34.75 profit taking : $ 32.50 This is a new company, ipo last year. similar to SQ/Pypl for merchants. They have earning coming up tomorrow AH. There's no doubt that this company will grow but I think they overestimated earning this quarter and find it hard for them to beat estimates. I'd love to see a real pull back to $27.62...
5 waves completed on the long term picture We did hit our 2:1 extension, which means that we may expect a pullback now. 100-103 USD, should be a good short opportunity. On the long term i am looking for a pullback to 76 USD
Pay Pal looking great. Its move to the 100% mark is nearly certain at this point. I would look for rejection at 99.53 area and watch for the pullback to 96.92. area, and if it has momentum look for it to continue to 94.31. Dont get me wrong it could absolutely crush 99.53 and make a drive to 102.14, but wait for closes about that level to confirm. This is NOT...
When looking at the 2008 recession i noticed some similirates. The first wave ended at a 1.618 extension which is also did in 2019. What next? We then had a impulsive wave up, touching the 0.618 extension of the 2nd wave up in 2008. In 2019 we are doing the same, but this time the wave went above the 0.618. It states that wave 2 can reach a maximum 0.786 extension...
PayPal recently gave us a buy signal on the Megalodon indicator. It is important to keep an eye on the earnings coming out at the end of the day on Wednesday. For information on how to use the Megalodon indicator for yourself, send me a message!
PYPL looks relatively strong compared to the rest of the market. I think a retest of the $89 area is a good entry for a possible U turn back up to new ATHs. Giving it a wide stop.
Lets's where SQ goes from here.
LONG PYPL @ 81.39 SL @ 78.99 (570 Pips) TP @ 87.09 (240 Pips) RR: 2.37, SWING Setup! Enjoy our limited Content and Setups, leave us a like and Comment!!