$PYPL TOP 20
Added 2024-05-26 16:59:36 +0000 UTCWe observed $ARK building a position in $PYPL this week which was a slight surprise......a surprise because she was accumulating at a healthy position, above the 200 Day MA and towards the end of our Wave C....which is not something they typically do.
$PYPL is in an accumulation phase right now so the strong supply of shares, so it does make it easier for large funds like this to accumulate.
Sometimes, I do not like when our analysis aligns with $ARK but if this is a pivot change for $ARK away from 'disruptive' tech to fundamentally stronger companies, this should be welcomed.
Needless to say, $PYPL needs to hold above the 200 Day MA at $60.60, or there is considerable weakness below this level....likely brought on by the uncertainty behind delaying a rate cut.
We can see that the sector is struggling with this uncertainty too.
Comments
I agree, the cheapest outsourcing they can do
Gareth Neary
2024-05-26 17:07:17 +0000 UTCI am willing to bet someone high up from ARKK is a member of the group.
Shaleen Deep
2024-05-26 17:05:42 +0000 UTC
