PAYPAL HOLDINGS INC.: TECHNICAL ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL STOP |
| Entry Point | 57.30 |
| Take Profit | 52.00 |
| Stop Loss | 59.00 |
| Key Levels | 52.00, 57.30, 58.00, 59.00, 60.00, 61.80, 64.00, 65.70 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 60.20 |
| Take Profit | 65.70 |
| Stop Loss | 59.00 |
| Key Levels | 52.00, 57.30, 58.00, 59.00, 60.00, 61.80, 64.00, 65.70 |
Shares of PayPal Holdings Inc., an American debit payment system, are correcting at the level of 58.00.
On the daily chart, the price remains below the support line of the downward corridor with dynamic boundaries of 64.00–60.00.
On the four-hour chart, after back-testing the support line of 61.80, the quotes are declining, forming a Head and shoulders reversal pattern with an implementation level of 57.30. Now, the formation of the second Shoulder of the pattern is ending, after which it may begin its implementation with the target at 52.00.
Technical indicators maintain a poor buy signal: fast EMAs on the Alligator indicator are close to the signal line, and the AO histogram forms corrective bars in the buy zone.
Trading tips
Short positions may be opened after the price declines and consolidates below 57.30 with the target at 52.00. Stop loss – 59.00. Implementation period: 7 days or more.
Long positions may be opened after the price rises and consolidates above 60.20 with the target at 65.70. Stop loss – 59.00.
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