PayPal Holdings Inc. (PYPL) Elliott Wave technical analysis [Video]
|PYPL Elliott Wave technical analysis
Function: Counter Trend.
Mode: Corrective.
Structure: Complex.
Position: Wave (Y).
Direction: Top in wave (Y).
Details: We are exploring the possibility of a significant top in wave (Y) as we seem to have a three wave move completed within wave (Y). There is a possibility we have had a 1-2-3 instead, however that needs further confirmation.
PYPL Elliott Wave technical analysis – Daily chart
On the daily chart, PYPL appears to be completing a complex corrective structure within wave (Y). The price action suggests a potential top in wave (Y), marked by a three-wave move. There is an alternate scenario where this movement could be part of a 1-2-3 impulsive wave instead of corrective, but further confirmation is needed to validate this count.
PYPL Elliott Wave technical analysis
Function: Counter Trend.
Mode: Corrective.
Structure: Complex.
Position: Wave {i} of A.
Direction: Downside in wave {iii}.
Details: Looking for continuation lower in at least what could be either wave {iii} or {c}. Volume seems to be suggesting this was the start of something, so a wave {i}/{a} fits the narrative.
PYPL Elliott Wave technical analysis – One-hour chart
The 1-hour chart shows that PYPL is in the early stages of a decline, likely within wave {iii} of A in a corrective sequence. Volume supports the possibility that the initial move downward could be the beginning of a larger trend, either in wave {iii} or possibly in wave {c}. The current focus is on continuation lower to complete the corrective pattern.
This Elliott Wave analysis of PayPal Holdings Inc., (PYPL) outlines both the daily and 1-hour chart structures, highlighting the current trends and possible future price movements.
PayPal Holdings Inc. (PYPL) Elliott Wave technical analysis [Video]
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.