Paypal #PYPL: Elliott Wave Analysis 🚀🌐

A remarkable surge in Paypal!

Likely concluding the overarching Wave II in October, we've since built Wave (i). Our limit order at the 50% retracement was missed, but with the CEO's announcement that Paypal is set to change the world, it skyrocketed by 15%. The future trajectory of Paypal remains to be seen, but we anticipate at least a rise to $80. Long-term, we set our sights on significantly higher targets, given that this is the initial Wave II, and we shouldn't drop back to the $50 or $57 levels. 🚀🌐

Comment:

Since our entry in PayPal, we've witnessed a substantial rise, during which we secured profits and were subsequently stopped out at break-even—not a terrible outcome, but it may now present an opportunity for reevaluation. However, should the price continue to rise beyond wave (b), we will consider this scenario valid and keep an eye out for new entry points. For now, we remain on the sidelines, observing PayPal's development. Making a profit with PayPal was the primary goal, and while the gains weren't as substantial as hoped, taking profit is never a loss. Hence, we will wait and see how things unfold. It's crucial that the price does not fall below the wave ((ii)) level of $55.77, and we should surpass the wave (b) level of $68.21 before considering additional positions.

Comment:

For PayPal, we continue to believe that we might be dealing with the potential completion of Wave ((ii)) at $55.77. We were stopped out at break-even after taking profits. However, we still face the issue that PayPal has not surpassed the resistance zone of Wave ((i)). As long as we don't break above the level of $68.21, we won't be looking for long positions, as it appears too uncertain for us. If we drop below $55.77, we might fall back to around $50, where we could set new entries. Until then, we will wait to see how things unfold without hastily searching for any entries. Patience is key.