PayPal's daily chart is painting a very similar picture to the potential Triple Top Reversal pattern that we identified yesterday for the SPY.
We believe in the long-term fundamental strength of the company, thus seeing great long-term value for the stock. However, we believe that if the stock fails to break higher for a 3rd time in a row, then it will most likely make a move lower towards the $175-185 support zone. The price will most likely attract a lot of buying interest around these levels, which will then lead to a quick and volatile move higher. However, if $175 is broken, then this would also break the neckline of the Triple Top Reversal formation, which will then lead to a much larger decline towards the $145 mark.
Follow the DowExperts for more in-depth market analysis and recommendations.
Stay safe out there and always make sure that you are trading and investing responsibly!
Kind regards,
DowExperts
We believe in the long-term fundamental strength of the company, thus seeing great long-term value for the stock. However, we believe that if the stock fails to break higher for a 3rd time in a row, then it will most likely make a move lower towards the $175-185 support zone. The price will most likely attract a lot of buying interest around these levels, which will then lead to a quick and volatile move higher. However, if $175 is broken, then this would also break the neckline of the Triple Top Reversal formation, which will then lead to a much larger decline towards the $145 mark.
Follow the DowExperts for more in-depth market analysis and recommendations.
Stay safe out there and always make sure that you are trading and investing responsibly!
Kind regards,
DowExperts
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Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.