$PYPL TOP 20
Added 2024-01-23 00:34:29 +0000 UTCInteresting price action today for $PYPL, it was quite bullish in the PM but could not sustain this enthusiasm at the opening but we can see clearly that the pull back was exactly to the 200 Day MA and the red trend line which is the top of the long wedge it has been in for 2 years.
So this is good to see that it held support above both of these levels, making it a strong confluence level.
I have added both the 1hr chart and the daily chart to show how this played out.
A pull back is no concern after such a strong week last week too.
Let's see how this performs during the week now, if the 200 Day MA on the daily chart is lost, we will watch for the 50 and 200 MA on the 1hr chart which are together at $61.40....but I would be surprised to see it move to this level with the pending announcement due on the 25th.
Otherwise, still bullish on this set up and we knew that this range between $64 - $66 would be a battle.
