$PYPL * PAYPAL HOLDINGS INC. EWP TC FIB MONTHLY TF ANALYSIS
Today's chart is a monthly time frame of PayPal Holdings, Inc. (
PYPL), showing an Elliott Wave count on the price action:
1. Elliott Wave Pattern:
The chart suggests an impulse wave structure, with labels for the five-wave upward movement (labeled 1, 2, 3, 4, and 5), followed by a potential corrective wave (A).
The impulse waves have been forming in an upward direction, but the current price action suggests that we are in a corrective phase (labeled as wave “A” and potentially moving towards wave “B” in the future).
2. Fibonacci Retracement Levels:
The Fibonacci retracement levels are drawn from the ATH of wave 5 down to the low of wave 2 (around $38, the IPO price). These levels help predict potential support and resistance zones.
Significant retracement levels are visible, indicating the areas where price could potentially reverse or consolidate. Price recently seems to be approaching the 0.236 level (around $70), which is a shallow retracement, suggesting that the market may not be fully correcting yet.
3. Price Targets:
On the upside, there are extensions in the 0.618 / 0.65 Fibonacci zones (Golden Pocket), suggesting that PayPal could potentially reach price levels of around $155 if the trend in Wave B of this correction resumes. The downside targets for Wave C are lower, with strong support levels near the 0.786 Fibonacci level (around $50) and a potential ALGO TP at $33.
4. RSI (Relative Strength Index):
The RSI is positioned around 48, which indicates neutral momentum. The RSI has previously shown both overbought (above 70) and oversold (below 30) conditions in previous cycles, and currently sits in a middle range, showing that the market is neither in a strong bullish nor bearish phase.
5. IPO Price Reference:
The IPO price of $38 (highlighted on the chart) remains relevant. It is near the current key support level, and price revisiting this level could be seen as a potential bottom if the correction continues.
Summary:
Future price targets depend on how the corrective wave unfolds, but the structure suggests there could be further downside risk if the GZ SHORT at $155 holds.
PYPL), showing an Elliott Wave count on the price action:1. Elliott Wave Pattern:
The chart suggests an impulse wave structure, with labels for the five-wave upward movement (labeled 1, 2, 3, 4, and 5), followed by a potential corrective wave (A).
The impulse waves have been forming in an upward direction, but the current price action suggests that we are in a corrective phase (labeled as wave “A” and potentially moving towards wave “B” in the future).
2. Fibonacci Retracement Levels:
The Fibonacci retracement levels are drawn from the ATH of wave 5 down to the low of wave 2 (around $38, the IPO price). These levels help predict potential support and resistance zones.
Significant retracement levels are visible, indicating the areas where price could potentially reverse or consolidate. Price recently seems to be approaching the 0.236 level (around $70), which is a shallow retracement, suggesting that the market may not be fully correcting yet.
3. Price Targets:
On the upside, there are extensions in the 0.618 / 0.65 Fibonacci zones (Golden Pocket), suggesting that PayPal could potentially reach price levels of around $155 if the trend in Wave B of this correction resumes. The downside targets for Wave C are lower, with strong support levels near the 0.786 Fibonacci level (around $50) and a potential ALGO TP at $33.
4. RSI (Relative Strength Index):
The RSI is positioned around 48, which indicates neutral momentum. The RSI has previously shown both overbought (above 70) and oversold (below 30) conditions in previous cycles, and currently sits in a middle range, showing that the market is neither in a strong bullish nor bearish phase.
5. IPO Price Reference:
The IPO price of $38 (highlighted on the chart) remains relevant. It is near the current key support level, and price revisiting this level could be seen as a potential bottom if the correction continues.
Summary:
Future price targets depend on how the corrective wave unfolds, but the structure suggests there could be further downside risk if the GZ SHORT at $155 holds.
In technical analysis, several methods focus on higher timeframes to provide a broader, more reliable context for trading or investment decisions. Elliott Wave Principle generally considers historical higher timeframes as mandatory.
Penafian
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