PayPal: Upward Pressure

PYPL has remained under upward pressure, moving significantly closer to the important resistance at $78.86. If the price rises above this level directly, we will have to assume that it has already completed the beige wave alt.II—and thus the overarching corrective movement—with the last notable low. Consequently, in this 45% probable case, the stock would have already entered a new upward cycle, specifically the first wave alt.1 of a turquoise upward impulse. Primarily, however, we expect the stock to imminently reverse downward to complete the regular wave II below the support at $50.18. Only afterward should a new sustainable upward impulse begin—initially driving rises above $94.97.