While the overall stock market has had one of its best years in a very long time, we can unfortunately see that Paypal has gotten no action in 2023 as this selloff has been ruthless for the stock
However, taking a look at the monthly chart, we can see the RSI on our Traders dynamic index reached a bottom on June 2022, & has been slowly advancing upwards since then, while price has moved lower
This means that BULLISH DIVERGENCE has been forming for the past 17 months & at some point, the stock under this pressure cooker has to rally substantially at some point
Currently paper trading some long calls exp. June 2024, might wait for price to go a little lower before entering positions...
There is a slight chance that Paypal's rally could be similar to Meta's, looking more like a U shape recovery rather than a V shaped recovery...
However, taking a look at the monthly chart, we can see the RSI on our Traders dynamic index reached a bottom on June 2022, & has been slowly advancing upwards since then, while price has moved lower
This means that BULLISH DIVERGENCE has been forming for the past 17 months & at some point, the stock under this pressure cooker has to rally substantially at some point
Currently paper trading some long calls exp. June 2024, might wait for price to go a little lower before entering positions...
There is a slight chance that Paypal's rally could be similar to Meta's, looking more like a U shape recovery rather than a V shaped recovery...