I have avoided PYPL like the plague because it has been in a downtrend for 2yrs and has been a major underperformer. The 200d MA has been the tell as it broke below the 200d MA back in Sept '21 and has continue to trend lower... until recently.
So,what has changed?
The Technicals have changed:
1. Simply, today it has reclaimed its 200d MA
2. It has rallied above its Jan Value Area using VolumeAtPrice concepts using the "MarketWebs" Indicator.
- this means it is breaking above its previous price & volume December range.
So, it appears it is changing character!
My Price targets are also based on Volume At Price "MarketWebs" = $73.25 VPOC from Daily Chart & $77.85 top of the yearly Value Area
Where does this Trade Idea go wrong? If it falls back below the 200d MA or back inside its Jan Value Area $64. Which I would use as a stop price ($64)
So,what has changed?
The Technicals have changed:
1. Simply, today it has reclaimed its 200d MA
2. It has rallied above its Jan Value Area using VolumeAtPrice concepts using the "MarketWebs" Indicator.
- this means it is breaking above its previous price & volume December range.
So, it appears it is changing character!
My Price targets are also based on Volume At Price "MarketWebs" = $73.25 VPOC from Daily Chart & $77.85 top of the yearly Value Area
Where does this Trade Idea go wrong? If it falls back below the 200d MA or back inside its Jan Value Area $64. Which I would use as a stop price ($64)