I’ve just entered a position in PayPal, and the reason is that several overlapping factors are lining up in a way that suggests a potential bottom may be in.
First, it looks very likely that Wave (2) is complete. The stock tapped the 61.8% Fibonacci retracement level with precision and has held that level over the past few days – all while the RSI has been climbing, which is a strong bullish divergence signal in my book.
Second, PayPal just touched last year’s VWAP level perfectly, which I view as another strong technical indicator for a potential reversal.
How far this move could go is still unclear, but the open gap above is definitely something I’m watching closely. For that to be in play, $71 needs to be reclaimed. And from here on, $66 should not be touched again.
That’s my plan – and that’s how I’m trading it. Let’s see if the market plays along.
First, it looks very likely that Wave (2) is complete. The stock tapped the 61.8% Fibonacci retracement level with precision and has held that level over the past few days – all while the RSI has been climbing, which is a strong bullish divergence signal in my book.
Second, PayPal just touched last year’s VWAP level perfectly, which I view as another strong technical indicator for a potential reversal.
How far this move could go is still unclear, but the open gap above is definitely something I’m watching closely. For that to be in play, $71 needs to be reclaimed. And from here on, $66 should not be touched again.
That’s my plan – and that’s how I’m trading it. Let’s see if the market plays along.
🏆 FREE Telegram - t.me/stromm_trading
⚡ Join me when you're ready – over 550 are already there.
⚡ Join me when you're ready – over 550 are already there.
Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
🏆 FREE Telegram - t.me/stromm_trading
⚡ Join me when you're ready – over 550 are already there.
⚡ Join me when you're ready – over 550 are already there.
Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.