Flag/Earnings WarningThis flag almost became too heavy for it's pole. The flag should not become as long as it's pole.
A flag is a neutral pattern until it breaks a trendline with conviction.
This is not to long entry level. Jumping the gun can cost folks money sometimes. This flag has not cleared resistance.
Earnings are coming up soon so it may stay inside the flag or even break down if market falls again.
No recommendation. Be safe.
UPDATE on earnings: The market is forecasting a 14% YoY decline in earnings per share.
The most fundamental issue that PayPal is dealing with is the slowing of net new active account growth in 2022. Part of the reason for the slowdown in account growth is that PayPal has cleaned up its books and deleted a large number of ghost accounts.
PayPal's net new active account growth is slowing, with inflation cited as a top concern for financial companies, including Fintechs.
I see conflicting dates on 5 different sites that I looked on to find the actual earnings date and all 5 sites conflicted. I can only say earnings will be announced late October or by mid November.
If the market continues in an upward direction, then there is no telling what can happen. I feel deep down this move up is a temporary one that may leave a few folks crying in their beer, but it has been a ferocious rally so far.