Technical Pulse: PayPal Holdings Ltd March 29, 2021 580

 

PayPal Holdings (US: PYPL) appears to be having a potential head and shoulder formation but as the technical indicated, PayPal is poised to edge higher:  

 

  1. As the wave (5) (bold in black) of the intermediate trend came to an end, the larger corrective flat is poised to take form. As such, PayPal is now in the last leg of wave (Y) of (B)
  2. The immediate downtrend line has been broken; hence the potential upside may be the new trend.
  3. The morning star formation alike formation indicate further upside. Breaking US$250.00 will further cement the upside.
  4. The larger trend is still on the upside as prices is still trending above the 200-day moving average.

 

*Timeline of the trade is 4 weeks from the date issued.

 

 

CHART LEGENDS

 

Moving Average

Red dotted line = 200 Periods Moving Average

Blue dotted line = 50 Periods Moving Average

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