Does legendary Elliot like PayPal stock technically?
Beside Elliot Wave which is hugely, in favors of buys on this stock. The relative strength index (RSI) of 38 implies PayPal’s stock is a lot closer to oversold territory than overbought territory. By 10 November the RSI has dropped to 22.55.
It would be understandable for investors to want to take advantage of the recent weakness, especially for long-term and patient shareholders that can wait out any near-term weakness.
A quick reversal could result in PayPal’s stock soon testing the $290.00 level and then the $300.00 level. If the rebound is swift, investors will be looking for PayPal’s stock to test its all-time high of $310.16. On the other side, bears will watch if the stock breaks below the strong support at $270.00. It it loses this level, the next support level to watch is $264.00
Please note that the consensus estimates and recommendations are provided by me who dont have the time to track the evolution of the company’s fundamentals over time. They should not be taken as investment advice. These estimates are a reflection of my conclusions and views. They could be wrong. Investors should do their own research before investing in PayPal stock or any other company.
It would be understandable for investors to want to take advantage of the recent weakness, especially for long-term and patient shareholders that can wait out any near-term weakness.
A quick reversal could result in PayPal’s stock soon testing the $290.00 level and then the $300.00 level. If the rebound is swift, investors will be looking for PayPal’s stock to test its all-time high of $310.16. On the other side, bears will watch if the stock breaks below the strong support at $270.00. It it loses this level, the next support level to watch is $264.00
Please note that the consensus estimates and recommendations are provided by me who dont have the time to track the evolution of the company’s fundamentals over time. They should not be taken as investment advice. These estimates are a reflection of my conclusions and views. They could be wrong. Investors should do their own research before investing in PayPal stock or any other company.
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Im bullish on KH33
probably the only index im buying atm
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PYPL important update: expect more downside to come.
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