PYPL - is already on a bearish trend It has gone below 200MA and the last time it did was the Infamous 2020March crash. Last time it finds support after 24% (below 200MA) and this time it is already gone blow approx 10% below 200MA and the support line is around 212is which again another 9.45% down from the current level.
Also, RSI is around the support level but in the past, RSI has gone below this support level.
So what could happen?
8 days to earning, this could go flat till the earning and any miss in the earning will send the stock another 9-10% but if there is any positive sign sent this to quickly sent back to 260-270level (above 200 MA)
Whatever it is
PYPL in long term is a good bet so any OTM long calls could reward nicely but short term the pain will continue.(this is not a financial advise, just some thoughts)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.