Historically, the
movement on PayPal shares (NASDAQ:PYPL) has been choppy, but the overall
movement has been bullish. The current price action shows the bullishness in
the market.
In the past several
months, the market has been quite choppy but bullish.
4 EMAs are used for this
analysis, and they are EMAs 10, 20, 50 and 200. The color that stands for each
EMA is shown at the top left part for the chart. All the EMAs are sloping
upwards, as price hovers around the EMA 10 or 20. There may be pullbacks
towards the EMA 10 or 20 (even 50) – all of which would provide good
opportunities to go long.
PayPal is currently
sloping upwards, and the outlook on its shares for this year is bullish; unless
price crosses the EMA 200 to the downside, closing below it. That would be a
Death Cross.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Super Trading Strategies: Super Strategies
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