2PP trade ideas
Bottom?We can see the attempt to build a bottom at around 75.70. This level has some relevance at least since July when it was a temporary top at the begin of the month and was tested from the topside at the end. It has been serving as a support for 1 month now. At this level always new buyers come in and on the 7th of November we could open a window after the attempt to fall below this level the day before. The support has been tested several times and proved to be important enough to risk a little long position.
PYPL PayPal $2.5K fine for users spreading misinformationIf you haven`t sold PYPL at $171:
or reentered at $68:
Then you should know that PYPL PayPal has removed the policy that would have fined users $2.5K for spreading misinformation.
PayPal said the issue statement was a mistake and denied this policy.
I think it was a "mistake" that will lead to multiple accounts closing and because of that I just downgraded PYPL to $69.
Looking forward to read your opinion about it.
PYPL 9/23/2022PYPL
Lol Paypal? More like sorry pal!
This one took away all the Covid gains and some!
Topping out at around 310, PYPL now finds itself at around 87.00.
The Covid uptrend started on Apr.’20 at around 107. It moved upwards for 461 days reaching it’s peak of 310.
From its peak, it only took the downtrend 205 days to take price from 310 back down to 107!
You gotta love shorting and downtrends!!!
Seeing a lot of double tops lately.
After finding support at 69.75, price bounce and broke above the 50 ema.
This was very significant since price has been respecting the 50 ema throughout the entire downtrend.
Price went on to form what looks to be a Double top pattern with a neckline at 91.15
It has now broken below the neckline and back under the 50ema!
The breakout above 200ema is deemed a “false breakout” and price will look to continue it downtrend and respecting the 50 ema.
Will be entering trade short and taking swing to previous lows.
Entry: 86.86
Stop loss: 100.20
Target: 70.38, +18.97%, 1.24 RR ratio
PayPal (PYPL) ... 3 PossibilitiesPayPal (PYPL) managed to return 30% in the first half of November 2022 and then gave it all back.
Obviously going forward there are three possibilities:
a) PYPL-Breaks dotted red line and traces out a Bullish Butterfly pattern with its point D being ~ $64
b) PYPL-Holds Bat D ~ $71 and traces out the same targets of the old Bullish Bat Pattern.
c) PYPL-Continues sideways
While we will most probably be hostage to J Powell and the Fed bullies until next week,
I would presently handicap the probability of each outcome as:
A) 30%
B) 55%
C) 15%
No position here...I'll let the price action direct me and get back.
As usual this is not investment advice... do your own due diligence!
S.
Classic Cup & Handle Pattern On PYPLHigh probability that PYPL trades higher in 2023 towards $120 based on a weekly cup and handle patter.
Note: This is not financial advice. Consult your financial advisor before doing anything.
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PayPal: Below Deck 🚢Paypal is currently following a downward trend below the resistance line at $93.52, where it should stay until the overarching wave II is completed within the grey target zone between $66.16 and $34.93. Thereupon, the course should turn back North and recover to continue its movement further above the $93.52-mark.
PYPL: A classic Descending Broadening Wedge!• PYPL is doing a Descending Broadening Wedge in the weekly chart;
• This week it went up almost 20%, and it is in a key resistance area, made by the upper purple trend line and by the 21 ema;
• In theory, PYPL would correct next week, however, if the bullish momentum persists, PYPL would break this Descending Broadening Wedge, and in this scenario, the next resistance is the $122 (green line);
• The volume is increasing, which reinforces the idea of a breakout;
• For now, let’s pay attention to this resistance area.
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