The Long Investor

$PYPL

Added 2023-08-04 20:31:09 +0000 UTC

Ok this is what we are dealing with now with $PYPL.

Price just held support today at the 0.78 Fib, we still need more price action to confirm that this is a support level and we will watch for this on Monday.

We are right in the middle of the buy zone, so as before, I will accumulate here in this undervalued area.

We can see that the price has also dropped back into the wedge again and the support lines are as shown, I have the bottom of the buy zone at $57 and the red trend lines just slightly lower, circa $55.

These levels are a possibility, due to the excessive selling from today and yesterday.

We have been lucky that we have not had to hold for too long this year on a number of stocks to start seeing substantial gains, typically over a 2 month period we have been able to secure on average 20-30% returns.

If I am asked if I am prepared to hold a company like $PYPL for 2-3 months or even longer, in order to see 20-30% gains, I would say gladly.

In terms of risk v reward here at these levels, the overwhelming answer is to the reward side