Until recently (March 2022) PayPal had given back over 70% of its gain from the March 2020 low to the Feb and July 2021 double tops.
Since then its rallied 3% then given back a third of that.
A possible bottom is in the process of forming over the past month as evidenced by current Harmonic and momentum patterns
Elliotticians might also view the current wave structure as favorable with a $140 C wave target.
A long position is shaping up. Targets are marked with a suggested 2:1 risk reward ratio from Thursday's close..
My stop is a .786 retrace of March/April 2022 range. Aggressive traders could use that low.
You must note that PLPL earnings are scheduled for April 27th.
So worth watching in my opinion, if your are market constructive.
Not financial advice. As always do your own due diligence. Respect world events, sector and broader market conditions.
S.
評論:
I have added longer term Harmonic "D" projections objectives if this is indeed a major reversal.
