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
@LMSunshine @CaptainTiger @macroB @melson @TigerStars @Deposit
Comments
It NEEDS to be up!!!!