The Long Investor

$PYPL TOP 20

Added 2024-01-03 20:16:13 +0000 UTC

I have been keeping an eye on this for the day, watching to see if it would stay below the 0.5 Fib but it has not happened and is sitting on the 0.5 Fib and looks set to end the day here.

I was disappointed to see $PYPL lose the 0.38 Fib for Wave 4 and the 200 Day MA on the 1hr chart but the financial sector took a hard hit today, including the the Crypto market, the US 10 Year bounced 1% at the opening but has now declined the same amount nearly, however it has still left a sour taste behind, also the market was uneasy waiting for the Fed minutes to come in, there was no big surprises from the minutes.

The 0.5 Fib is the final Fib level for me for this to be considered a Wave 4, the 50 Day MA on the daily chart is just slightly below at $57.40 however.

Any loss of these two levels and we are likely in an ABC correction instead and we will be looking to make a higher low on the 0.618 Fib which is not on this chart for now but it is at $55.55

For me, I am still seeing this as a Wave 4, because Wave 3 hit the 1.618 Fib exactly, it has pulled back in a corrective wave manner, and it is still respecting the rules of EWT by not infringing on Wave 2.

My plan is to do nothing but consider adding if it pulls back.

Under no circumstance am I selling $PYPL at these levels, I will only add, as long as the fundamentals remain the same and there has been no announcements from the company or any suggestion that things are not progressing.

Ops normal.