PayPal (PYPL) AnalysisPayPal has reclaimed a nice trendline
On this chart two points can be compared that are very similar
The first point ends up with bullish continuation, hence we can make the assumption that the second formation, due to it's similarity will act the same
Key comparable areas in corresponding colours.
Paypalsignal
PayPal under pressurePayPal Holdings Inc shares fell 1.22%, or $3.19 per share, to close Wednesday at $259.00. The stock showed a lot of weakness since the company's latest earnings report on July 21 showed a higher sales and earnings in Q2, but, its projections for the full-year 2021 were downbeat.
The stock has violated the ascending trendline aggressively with a downward gap confirming the formation of a bearish reversal pattern on the daily timeframe. PYPL may extend its pullback hitting the pattern's target at $235.00 that corresponds to the 38.2% Fibonacci retracement level.