The Long Investor

$PYPL TOP 20

Added 2024-01-24 17:22:27 +0000 UTC

Looks like we'll get the second test of the 200 Day MA today at $63.10, which is also exactly at the red trend line.

We know the $64 - $66.50 is a high supply zone so it was going to be a strong battle ground for the bulls so a second retest of the 200 Day MA should not be too much of a surprise.

So what happens if the 200 Day MA is not held?
Then we need to be prepared for a test of the 50 Day MA at $59.80, which would mean that we hit our Wave 5 this week then on Monday at the opening.

Remember, a pull back today before the CEO makes his announcement tomorrow is not necessarily a bad thing.....if we got a strong bounce today then we would need to expect a buy the rumour, sell the news event tomorrow but that is not happening today.

Continue to do nothing here, the bulls are still battling and in the driving seat.