PYPL - At a Crossroad !
Updated
Hello Traders !
It seems that NASDAQ:PayPal is trying to close above the 78.6% Fibonacci retracement level at $290.73.
Last Thursday on Jun 24th,
PYPL were able to close above, however, we didn’t have a confirmation on the next day candle!
Today we have the same scenario, if it closed above $290.73 and we had a confirmation tomorrow, then I think we might head to the all-time high at $309.
Personally, I tend to think thatPYPL won’t be able to reach $309. So, my position is bearish and the next support level is the 20SMA and 50SMA.
Note: this is not a call to buy or otherwise. I am just sharing my own analysis.
Best of Luck !
It seems that NASDAQ:PayPal is trying to close above the 78.6% Fibonacci retracement level at $290.73.
Last Thursday on Jun 24th,
PYPL were able to close above, however, we didn’t have a confirmation on the next day candle!Today we have the same scenario, if it closed above $290.73 and we had a confirmation tomorrow, then I think we might head to the all-time high at $309.
Personally, I tend to think that
PYPL won’t be able to reach $309. So, my position is bearish and the next support level is the 20SMA and 50SMA.Note: this is not a call to buy or otherwise. I am just sharing my own analysis.
Best of Luck !
Note
To clarify, today, I think PPYPL is trading up because it's only influenced by NASDAQ 100 INDEX.That’s why my position is bearish
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