Pypllong
PYPL: Potential 5 R/R up side trade or more!Paypal has rallied about 260% since covid19 low back in Mar'20.
Price retraced after hitting ath on July 26, giving us ABC retracement (purple drawing line).
What I'm forecasting now is a short 5 Elliot Wave up to Supply Zone.
Waiting for pullback (4th wave) to Demand Zone. Since there's a gap up on Aug 30, my entry will be at $280.
Target profit 1 at $300 (round number)
Target profit 2 will depends if the Supply Zone/ Resistance will hold. If it does, then will exit all. If it doesn't, then PYPL will have lots of upside potential.
Disclaimer: I'm not giving any trading and investing advice. I'm just sharing my chart observations.
If you have any symbols that you'd like me to analyze, feel free to drop me a comment.
PYPL LongTicker: PYPL
Notes: PYPL got rejected hard on that 21EMA and formed a doji on the daily. It's setting up for a base rally formation along w/ TTM Squeeze on smaller timeframes. We also broke out of this wedge and looking for a continuation.
Key Levels:
- Play the breakout of 21EMA w/ a target of 286-287 area (50SMA)
or
-Wait for a retest of this wedge breakout at 273 to long it.
-Huge gap above, so it can be the next target after cleaing 50SMA
Greater Bull Confirmation(PYPL)I suspected PYPL of bullishness, but felt more comfortable with greater confirmation and we now have that. PYPL has bounced off of its Fibonacci Support and then displayed a reduction in selling momentum. Not only did we get a bullish signal from the momentum, but our Weis Wave showed that interest towards the short side has decreased significantly. I will be awaiting the EMA crossover on the Willy oscillator but I believe we have enough confirmation to dictate that PYPL is bullish.
Bullish Signals
-Squeeze Indicator
-Weis Wave
-Fibonacci Support
Price Targets/Resistance
-1st 286.42
-2nd 295.69
-3rd 308
PYPL Bullish SqueezePYPL has displayed a combination of bullish signals indicating we may see a great bull squeeze, allowing for a great entry. Our first indication that a squeeze was coming was our VPCI indication showing us that the current trend is supported by volume. The Stupid Willy also displayed a buy signal while the squeeze indicated bullish momentum needed for a squeeze. I believe this is a great place to enter, to potentially test the 309.80 resistance since the daily time frame also indicates bullishness(VPCI+Willy).
Bullish Signals
-Squeeze Indicator
-Stupid Willy
-Fibonacci Support
-VPCI
Price Target/Resistance
-309.80
PYPL in Buy ZonePYPL recently bounced off of one of its Fibonacci supports and has an overall great uptrend. The 4h time frame indicates a bullish squeeze to be had, following the buy signals given by the Willy Oscillator and the VPCI. If you want greater confirmation regarding this play then I would wait until we see a official reduction in selling momentum on the 1day time frame or wait until we hit support once more. Overall bullish on PYPL and expect a swing to the 310 price target.
Bullish Signals
-Squeeze indicator(4h)
-Willy Oscillator
-VPCI
Price Target
-310
PAYPAL correction and price levels LONGPYPL reached ATH, but if the trends should stay healthy, we should go through some price correction.
I know it is a good STOCK with significant potential. The price is going higher because of the covid situation and payouts for freelancers, but I am selling now, and I am gonna wait to buy again for a better price. The growth of profit has already been included in the price of PAYPAL stock.
ENTRY LEVELS LONG:
$263
$254 STRONG BUY
$224 STRONG BUY