Nov. 21 at 2:23 AM
$PYPL: The current market context shows a significant downtrend, with the last close at
$58.1, near the 60D low of
$58.0. The RSI at 18.07 indicates that the stock is heavily oversold, suggesting potential for a reversal. However, the moving averages (MA30 at 67.03 and MA50 at 67.87) are both above the current price, reinforcing a bearish trend.
Directional bias leans towards a cautious bullish reversal due to the extremely low RSI, but the overall trend remains negative.
Suggested entry:
$58.5 (slightly above last close to confirm upward momentum).
Stop loss:
$57.5 (below the 60D low to limit losses).
Targets:
$62.0 (first target, near previous resistance) and
$65.0 (second target, approaching MA30).
This plan allows for a potential rebound while managing risk effectively.
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