Paypal (PYPL) shows a very clear picture in the chart structure. We have two possible scenarios here, whereby the alternative scenario only has a probability of 20% due to the sell-offs.
Thus, I assume that Paypal saw the low at $68 on June 29 and has been in a wave (1) since then, which was completed August 16. Since then, the stock has been building a clean a-b-c correction, where the c should bottom in the area between the 0.618 retracement ($81.36) and the 0.786 retracement ($75.52), and then sustainably rise in a wave (3).
Thus, I assume that Paypal saw the low at $68 on June 29 and has been in a wave (1) since then, which was completed August 16. Since then, the stock has been building a clean a-b-c correction, where the c should bottom in the area between the 0.618 retracement ($81.36) and the 0.786 retracement ($75.52), and then sustainably rise in a wave (3).