PYPL back in play?

Asphen
2023-12-16


Good price action since 27 Oct 2023

- MA5 crossed above MA20 with the earnings on 27 Oct

- MA5/MA20 had been really tight together with the upper bollinger band

- Cup was well formed at 60 and once the breakout from the handle, it is now going for the next key level of 65


FED and Company Strength

- With Powell's magnificent showing last week, PYPL might benefit from the "rate cuts" or easing

- Good new leadership ==> New CEO comes from a credible front with INTUIT

- Strong financials ==> PYPL still has a good set of financials that will soon bear fruit with the new direction of the CEO


Price action forward

- Go for cup formation at 65 and handle formation towards 70 (also 50% gap fill) 

- Full gap fill at 74 would be next

- Downside support looks good at 56 then 52


Good luck, all

PYPL Daily Chart - 16 Dec 2023

@LMSunshine  @CaptainTiger  @macroB  @melson  @TigerStars  @Deposit  

$PayPal(PYPL)$  

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Comments

  • melson
    2023-12-16
    melson
    still has upside until 73 if the rate cut rally can overcome the current resistance zone.
    • Asphen
      yup... see that too. thank you.
  • ChrisColeman
    2023-12-17
    ChrisColeman

    It NEEDS to be up!!!!

  • macroB
    2023-12-18
    macroB
    financial sector next in rotation? 🤔
  • Aqa
    2023-12-17
    Aqa
    Like first. Can come back again!
  • LMSunshine
    2023-12-17
    LMSunshine
    Thanks buddy for the analysis❣️
  • Deposit
    2023-12-17
    Deposit
    v good analysis
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