PYPL #PayPal is forming cup and handle inside a descending wedge. It tried 2 times to break through $70 resistance which is the neckline a prior support area. Breaking above $70 would be bullish. Breaking below $62 would be bearish. Gap to be filled at $75. $75 will be a hard resistance to break through.
Breaking down below $59 would be really bad and it could potentially head to $47-$45 area.
Bullish Targets - $70, $75, $90
Downside risk - $60, $45
ER is on Aug 2nd which could co-inside with the trend line resistance area.
There is a threat of FedNow looming over both Paypal and $SQ. Also Buy Now Pay Later business side is under threats as more and more big players entering the space.
👀ing for now.
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I am not a licensed professional. None of the posts that I published are investment advice. Do your own research.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.