Paypal (PYPL) getting interestingWas doing some weekend homework on stocks my social media followers are into while I watched the last few episodes of Billions and came to NASDAQ:PYPL . I've been watching this stock since it hit my alert at 195.59 in November. The last two weeks of price action have piqued my interest.
On the 30 minute timeframe (which I consider the swing trading timeframe) there have been two potential reversal patterns playing out. The first being an inverse head and shoulder defined by price spikes being bought up... followed by a short term Ichimoku/50% Retracement. The latter presents the favorable risk/reward scenario. Price getting back into the 180s would trigger a tight stop but if price holds this reversal a long term trader/investor would be good for the rise to retest the highs over the next year.
