Hello Traders !
It seems that $NASDAQ:PayPal is trying to close above the 78.6% Fibonacci retracement level at $290.73.
Last Thursday on Jun 24th,
PYPL were able to close above, however, we didn’t have a confirmation on the next day candle!
Today we have the same scenario, if it closed above $290.73 and we had a confirmation tomorrow, then I think we might head to the all-time high at $309.
Personally, I tend to think thatPYPL won’t be able to reach $309. So, my position is bearish and the next support level is the 20SMA and 50SMA.
Note: this is not a call to buy or otherwise. I am just sharing my own analysis.
Best of Luck !
It seems that $NASDAQ:PayPal is trying to close above the 78.6% Fibonacci retracement level at $290.73.
Last Thursday on Jun 24th,
PYPL were able to close above, however, we didn’t have a confirmation on the next day candle!Today we have the same scenario, if it closed above $290.73 and we had a confirmation tomorrow, then I think we might head to the all-time high at $309.
Personally, I tend to think that
PYPL won’t be able to reach $309. So, my position is bearish and the next support level is the 20SMA and 50SMA.Note: this is not a call to buy or otherwise. I am just sharing my own analysis.
Best of Luck !
Note
To clarify, today, I think 
PYPL is trading up because it's only influenced by $NASDAQ 100 INDEX.That’s why my position is bearish
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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.