PayPal going into head & shoulder formation

It looks like yesterday drop (-5%) is forming the right shoulder that can bring to a strong movement at the end of this index consolidation phase

Note

Perfect bounce at 57,4 (same as left shoulder)

Note

I think upside movement will get stronger crossing SMA50 at 59,30$ and SMA100 at 60,16$
Inverted HS neckline is around 64$
Upside movement crossing neckline can be strong enough to exit descending channel and fill the gap between 67$-72,6$

Note

Straight to 64$, i have great expectation on PayPal

balinor

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balinor