Be greedy when people are fearful. Well,
PYPL
is trading at 2018 values with half the P/E ratio (22.5 now vs ~45 back then). Right now touching the lower end of the falling wedge and overextended from the support range at 69$-76$ where we expected at least a small rebound. We haven't seen it, so I can not call it a resistance break, as it has shown no resistance yet, the risky (but correct in my opinion) move here is to call it a overextension.
Buy price: right now below 69$
Price objective: at least 89$ (first peak-resistance of the falling wedge), potentially 94$ (second peak)
Tight stop loss: daily close below 66.50$ (under the bull gap from late 17')
Supportive technicals: Bullish divergence for the whole f. wedge both in RSI and MACD
PYPL
is trading at 2018 values with half the P/E ratio (22.5 now vs ~45 back then). Right now touching the lower end of the falling wedge and overextended from the support range at 69$-76$ where we expected at least a small rebound. We haven't seen it, so I can not call it a resistance break, as it has shown no resistance yet, the risky (but correct in my opinion) move here is to call it a overextension. Buy price: right now below 69$
Price objective: at least 89$ (first peak-resistance of the falling wedge), potentially 94$ (second peak)
Tight stop loss: daily close below 66.50$ (under the bull gap from late 17')
Supportive technicals: Bullish divergence for the whole f. wedge both in RSI and MACD
