$PYPL TOP 20

Before we start to run away with ourselves and believe this is the reversal for $PYPL, lets look at what the chart is saying:

• Price action jumped to $71 straight after the last earnings, it was not a beat but there was progress made, up until that point, there was a leading edge impulse wave 1 made.

• After that earnings, price pulled back in 3 waves and found support on the 0.618 Fib at $58, as standard as you'll get for Wave 2.

• Price has now bounced post earnings and above its 50 and 200 Day MA, positive sign.

• I have added the larger impulse wave now as Wave 2 has potentially held on the 0.618 Fib, which is a good sign that this was Wave 2.

• All I want to see today and going forward is the price action action staying above the MA's at $61.30 and building strength.

• Then I want to see an attempt at moving up to the blue line at $68, clearing this level and we are into the Bull Case and confirming Wave 3.

So we do have positive signs that Wave 2 is in but now we need to start seeing a series of higher highs and higher lows and staying above important support levels, then we can add again.

Happy that I am in the green here now.

$PYPL RESULTS: Q2

🔸Total payment volume $416.81B, +11% y/y, EST $417.27B

🔸Net revenue $7.89B, +8.2% y/y, EST $7.82B

🔸Transaction revenue $7.15B, +9.1% y/y, EST $7.08B

🔸Other value added services revenue $732M, +0.1% y/y, EST $726.3M

🔸US net revenue $4.55B, +8.1% y/y, EST $4.46B

🔸International net revenue $3.34B, +8.4% y/y, EST $3.36B

🔸Transaction margin dollars $3.61B, +7.8% y/y

🔸Total operating expenses $6.56B, +6.6% y/y, EST $6.71B

🔸ADJ operating income $1.46B, EST $1.31B

🔸ADJ EPS $1.19, EST $1.00

🔸Free cash flow $1.37B

🔸ADJ free cash flow $1.14B, EST $1.06B

🔸Active customer accounts 429M, -0.5% y/y, EST 427.47M

🔸Payment transactions 6.58B, +8.3% y/y, EST 6.76B F/Y GUIDANCE

🔸Sees share buyback $6B, saw at least $5B

🔸Sees free cash flow about $6B, saw about $5B