Classic Cup & Handle Pattern On PYPLHigh probability that PYPL trades higher in 2023 towards $120 based on a weekly cup and handle patter.
Note: This is not financial advice. Consult your financial advisor before doing anything.
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PYPL trade ideas
PayPal: Below Deck 🚢Paypal is currently following a downward trend below the resistance line at $93.52, where it should stay until the overarching wave II is completed within the grey target zone between $66.16 and $34.93. Thereupon, the course should turn back North and recover to continue its movement further above the $93.52-mark.
PYPL: A classic Descending Broadening Wedge!• PYPL is doing a Descending Broadening Wedge in the weekly chart;
• This week it went up almost 20%, and it is in a key resistance area, made by the upper purple trend line and by the 21 ema;
• In theory, PYPL would correct next week, however, if the bullish momentum persists, PYPL would break this Descending Broadening Wedge, and in this scenario, the next resistance is the $122 (green line);
• The volume is increasing, which reinforces the idea of a breakout;
• For now, let’s pay attention to this resistance area.
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PAYPAL HOLDING Short PositionWe expect that the price will decrease to the support level gradually. After rising wedge broke down, the Heikin Ashi candles show us that the price started to decrease. Moreover, MACD and DMI indicate that the price will decrease. Further, Divergence for many indicator shows us that 102 resistance level was selling time.
Entry, stop-loss, and target levels are in the chart.
#PYPL short ideaHello dear Traders,
Here is my idea for #PYPL
Price below purple trigger line to enter trade.
Targets marked in the chart (black lines)
Invalidation level marked with red line
Good luck!
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