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All the relevant levels and directions in PYPL Today we will take a look at Paypal ; let's start with the main technical elements we can see: First: The support and resistance levels. Currently, the price is against a major support zone working since the beginning of the year. From here, we have defined the next support level and the next resistance zone. Both will be working as primary targets, either for bullish or bearish resolutions. Regarding the bullish view, we have two descending trendlines we should pay attention to. Based on previous behavior, we can expect corrections during the ascending movement. Either on the first one or the second one. The cleanest setup based on a technical perspective would be to wait for contact on the 2nd trendline and see a clear correction. IF that happens, then we can trade towards the Next resistance zone (previous ATH level) Regarding the bearish view, we are NOT taking short setups on stocks. However, the scenario we think would be a clear confirmation of the bearish view would be: -Bearish breakout of the support level - Pullback on the broken support level - A new local low after the pullback would be the confirmation of the bearish movement towards the next support zone (180.00) Thanks for reading! Feel free to share your view and charts in the comment box.
NASDAQ:PYPL
by ThinkingAntsOk
6
We still waiting for a new bullish impulse on AMZNWe still waiting for a new bullish impulse on AMZN. Today we will take a look at the AMZN chart and a pending setup we have. The key concepts of this chart are: - The price has been moving in a range for 300 days until we saw the new ATH - Our main concept was: How many times can we look at situations in the past that the price stayed more than 300 days moving on a range and the resolution after that - Based on that, we have defined the setup you can see right now as the best option to develop positions in the current situation. It's important to say that we have found moments where the setup was executed, we have a stop loss, and then the price continues in the direction. That's why we are ready to develop 2 setups if necessary. - Now, we have a flag pattern on the edge of the range, and we are using Fibo extensions to define the targets of this movement. The fibo extensions are drawn based on the previous impulse (March 2020 - August 2020) - On a setup like this, we will be risking 2% of the capital, looking to make 4.5%+ as a return. - The expected time for a resolution like this is between 2 to 5 months. Thanks for reading!
NASDAQ:AMZNLong
by ThinkingAntsOk
2
ATVI, Can we expect a short-term bullish impulse? Today we will take a look at ATVI: a) Since February 2021, the price has been on a correction or a bearish trend (depending on how you want to see it), dropping 30%. b) The price has bounced on a support level, where we can be open to the idea of a new short-term bullish movement. IF the following items happen as expected (70.00 / 72.00) c) Another important detail is the corrective pattern on the edge of the broken descending trendline d) Alright, our bullish thesis goes like this: IF the price reaches the green horizontal line, we will consider it confirmation for the bullish movement towards the first target at 87.50. Eventually, we may see a second target at the descending trendline of 91.90 / It's important to be open to possible retracements or reversions. e) Our invalidation levels are below the corrective structure (yellow lines) either if the price reaches our activation line first or if the price keeps falling from where it is right now. f) The expected duration for a movement like this goes between 45 to 60 days. Thanks for reading, don't hesitate to ask any questions in the comments or share your view about this stock.
NASDAQ:ATVI
by ThinkingAntsOk
3