It seems that NASDAQ:PayPal is trying to close above the 78.6% Fibonacci retracement level at $290.73. Last Thursday on Jun 24th, PYPL were able to close above, however, we didn’t have a confirmation on the next day candle!
Today we have the same scenario, if it closed above $290.73 and we had a confirmation tomorrow, then I think we might head to the all-time high at $309.
Personally, I tend to think that PYPL won’t be able to reach $309. So, my position is bearish and the next support level is the 20SMA and 50SMA.
Note: this is not a call to buy or otherwise. I am just sharing my own analysis. Best of Luck !
Not
To clarify, today, I think PPYPL is trading up because it's only influenced by NASDAQ 100 INDEX. That’s why my position is bearish
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