PYPL: Might just shock everyone afterall!!

Paypal CEO's shocking the world prediction is a meme at this point. it looks like the company cannot do anything right. From the price chart perspective, the story is playing out as it should. As the rest of the market enjoyed a nice rally to local highs and for some significant all time highs, PYPL has put in a leading diagonal structure. As many diagonal structures do, it ends up in a 70-90% retracement, giving up majority of the progress in a very short period of time. For PYPL, looks like the initial selloff might be over and the stock might see a bounce very soon, which is most likely end up failing. Since the first wave was very strong, the second wave might be a bit more structured and may take some time. After the selloff is over and price can stay above $50.25, then it should start a pretty long and strong move upwards that will shock many. I am willing to wait a bit longer to get into this. It will be a change going long on this stock after shorting for the last few years.