$PYPL kissed its 0.618 Fib yesterday at $58 and managed to hold but needs to hold this level, as we know, losing this level for a Wave 2 pull back will show weakness and we are almost immediately into the Buy Zone then under $57. We are already into the Bear Case since losing the 200 Day MA.
I think losing $58 and many people will drop their heads and panic sell too, people in our group will do this too, I won't be selling but will consider adding in the Buy Zone when support is found.
Federico Salerno
2024-06-27 11:09:00 +0000 UTC