| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL STOP |
| Entry Point | 75.30 |
| Take Profit | 70.00 |
| Stop Loss | 77.00 |
| Key Levels | 70.00, 75.00, 77.00, 78.40, 83.50, 85.00 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 78.40 |
| Take Profit | 83.50 |
| Stop Loss | 77.00 |
| Key Levels | 70.00, 75.00, 77.00, 78.40, 83.50, 85.00 |
Shares of PayPal Holdings Inc., an American debit payment system, are correcting at 77.00.
On the daily chart, the price is trying to leave the global ascending channel with dynamic boundaries of 85.00–77.00, being at the support line.
On the four-hour chart, the quotes can break the channel’s support line 77.00 today, although the asset has previously tested thrice. In case of consolidation below the low of 75.00, a further decline may follow.
Technical indicators are weakening the buy signal: fast EMAs on the Alligator indicator are approaching the signal line from above, and the AO histogram is forming downward bars in the buy zone.
Trading tips
Short positions may be opened after the price declines and consolidates below 75.30, with the target at 70.00. Stop loss — 77.00. Implementation period: 7 days or more.
Long positions may be opened after the price grows and consolidates above 78.40, with the target at 83.50. Stop loss — 77.00.
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