Small Descending Triangle

2023년 4월 14일

This also measures out on a Fib table to be ABC/D. Stop under C. Target is D. Pattern will most likely reverse when D is reached, if it can even get to D.
Triangles are neutral until broken.
Patterns and especially targets can become extremely difficult to reach in some instances due to the various and multiple resistance levels hanging over many securities right now. If price busts up through one resistance level, then there will be another and another to break for many securities right now. This is one with a ton of concrete overhead.

Earnings are 5-8 BMO. An earnings beat could help PYPL break some resistance levels. Price is above the .886 and below the .786 of the trend up. Fib levels can also act as support and resistance levels.

If I measure for targets and see the pattern calls for a higher target than the next hard resistance zone, I remain cautious.

No recommendation.

2023년 4월 14일

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