PYPL - Reversal Potential (Original Post was on Dec 25, 2022)Original idea was posted on 25 Dec 2022, the post hidden by the administrator because it was using Indonesian Language,
Based in Fibonacci Retracement, current price area is the last support for the downtrend.
This area has been tested on June 2022 where PYPL successfully reverse back in its minor trend.
From the chart, seems that current support area is the combination between trend line and horizontal support from previous low, area $67.58 - $68.51 will be the critical to decide whether reversal will be repeated or not.
OR, current price action will lead the price to major trend line (7% risk from current price).
In the smaller timeframe (4H Chart), candle position is currently below EMA200, Monthly Pivot, and also Quarterly Pivot, so that for trading position, Weekly Pivot solely become our speculative buy decision point. Pivot Point for next week will be at $ 68.53 and last price on Friday Closing is at $69.03, MACD on 4H timeframe also shows Bullish Divergence. $PYPL situation is currently interesting for next week trading.
If the price can stay above $ 68.53, it is possible that the reversal will be repeated and possible continued with ranging proses for accumulation phase, we'll see that next week.
If the Stochastic can breakout from Value 50 Line, you might execute long position.
Disclaimer:
Writer is not responsible for any trading activity by individual who read this analysis.
Writer do not have any position in PYPL when this analysis is posted.
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Currently NASDAQ:PYPL has been up 2.17% from the last price that original posted was hidden by the administrator.
