After a more than welcome earnings rally, we would like to give investors an insight on paypal!
PYPL
In the past, we published several articles about paypal and announced our first acquisition back at 102,87$.
We highlighted our price targets and warned about a possible alternative which would push the price down to at least 70$.
Due to the overall weakness in most tech stocks paypal suffered further losses too and our alternative scenario came true.
However, the last weeks give reason for new optimism and most tech stocks gained double digits.
Furthermore the earnings report of paypal eased the tension most investors are feeling and the confidence in this company seems to return once more.
The immense growth of the covid-19 rally may not return in full strength but the concerns around slower growth is now priced in by the market.
According to our analysis, we expect that a 1-2 setup will form in the next days and will give everyone another opportunity to open further positions.
The chart structure of which this wave 1 consists points towards a bullish structure and formed five clear impulsive waves.
Investors and traders should expect an a-b-c correction to at least 85$ and we will announce further long positions in the marked green zone.
We advise everyone to watch paypal closely in the next few weeks, this effort will certainly be rewarded in the future
Our long-term chart which we published for the first time back in February is still valid and many indicators are recovering or reporting a bullish reversal.
Keep in mind that this chart is heavily simplified and a detailed analysis about every wave count can be found in the analysis above.
Paypal is severely undervalued and we believe that prices below 100$ are very good for accumulating.
Long #1 Paypal (NASDAQ:PYPL)
AVERAGE EXECUTION PRICE: 102.87$
STOP-LOSS: NONE
LONGTERM-TARGET: +200$ / +300$
PYPL
In the past, we published several articles about paypal and announced our first acquisition back at 102,87$.
We highlighted our price targets and warned about a possible alternative which would push the price down to at least 70$.
Due to the overall weakness in most tech stocks paypal suffered further losses too and our alternative scenario came true.
However, the last weeks give reason for new optimism and most tech stocks gained double digits.
Furthermore the earnings report of paypal eased the tension most investors are feeling and the confidence in this company seems to return once more.
The immense growth of the covid-19 rally may not return in full strength but the concerns around slower growth is now priced in by the market.
According to our analysis, we expect that a 1-2 setup will form in the next days and will give everyone another opportunity to open further positions.
The chart structure of which this wave 1 consists points towards a bullish structure and formed five clear impulsive waves.
Investors and traders should expect an a-b-c correction to at least 85$ and we will announce further long positions in the marked green zone.
We advise everyone to watch paypal closely in the next few weeks, this effort will certainly be rewarded in the future
Our long-term chart which we published for the first time back in February is still valid and many indicators are recovering or reporting a bullish reversal.
Keep in mind that this chart is heavily simplified and a detailed analysis about every wave count can be found in the analysis above.
Paypal is severely undervalued and we believe that prices below 100$ are very good for accumulating.
Long #1 Paypal (NASDAQ:PYPL)
AVERAGE EXECUTION PRICE: 102.87$
STOP-LOSS: NONE
LONGTERM-TARGET: +200$ / +300$
If you should have any questions regarding our analysis or elliot wave counts feel free to contact us.
