Paypal on the way down.
Let`s summarize the facts:
1. the stock gained incredible 275% from March 2020 to February 2021
2. revenue and business outlook weaker than expected
3. it's currently below all moving averages
4. double top created (Feb 2021 / Jul 2021)
5. dead cross on 3rd Nov 2021
6. currently consolidating as bearish rectangle between range 195 and 177. the bearish rectangle is known as continuation pattern.
Considering all facts including market situation of high priced tech stocks I think paypal will move down soon. Watch out for breaking the support line.
No financial advice.
1. the stock gained incredible 275% from March 2020 to February 2021
2. revenue and business outlook weaker than expected
3. it's currently below all moving averages
4. double top created (Feb 2021 / Jul 2021)
5. dead cross on 3rd Nov 2021
6. currently consolidating as bearish rectangle between range 195 and 177. the bearish rectangle is known as continuation pattern.
Considering all facts including market situation of high priced tech stocks I think paypal will move down soon. Watch out for breaking the support line.
No financial advice.
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