Paypal Holdings Inc (US: PYPL) has completed its full set of intermediate phase of the Elliott wave, including the larger regular flat corrective pattern and based on the technical, there is a possibility that Paypal is heading for another upside:

1. Since completing the last leg wave C of the regular flat, the upside move has been strong in terms of momentum. Although there is some struggle at the resistance level at US$214.06, prices has been able to stay afloat.
2. First, the bullish flag formation is an indication of a bullish continuation pattern.
3. Piercing line candlestick formation followed by an inside bar is an indication of a bullish upside. Also, it may be indicative of a shortfall retracement.
4. Prices has been trending well above the 200 and 50-day moving average.

*Timeline of the trade is 3 weeks from the date issued.

CHART LEGENDS

Moving averages

Red dotted line = 200 Periods MA

Blue dotted line = 50 Periods MA