$PYPL TOP 20
Added 2023-10-01 21:33:50 +0000 UTC$PYPL has also bounced on the bottom of the buy zone and so far it is still too early to say that this is the start of the reversal.
A number of Fed speakers will be talking throughout the week and may calm the concerns of 'higher rates for longer'...my personal opinion is that the Fed will start reducing interest rates in Q1 2024, in line with the market starting its correction.
$PYPL is already beaten down and is at the bottom of its corrective wave, so I think this will recover sooner, whereas the Mega Caps have not started their corrective ABC waves yet.
$PYPL remains one of my highest positions, only $AMZN and $NIO carry more weight.
We want to see this hold consistently at support now, even a sideways move I will be happy with to show that the selling pressure is over.
In terms of risk v reward, adding in this red wedge favours the reward side.
I will update this regularly as always and we will watch for signs of reversing.
