PYPL trade ideas
$PYPL still setting up as planned, but taking risk off...So far so good, this is a tough one to turn around completely after the downtrend it just had. Going to close out long term with 60% gain, then take a small short term position while the market digests the news from yesterday. Will post any reentry.
$PYPL end of year strangle...When we started to run last week, we touched $197...now we have the FOMC that is creating alot of anxiety and could end up causing more capitulation. If it doesn't, this thing runs again and I think goes over $200 quick. If not, the downside to the next volume shelf maybe at $140 is pretty far. Into the end of the week going to try a 12/31 $200 call/$170 put both at $1.60, see who wins. Consolidation burns my premiums so looking for movement.
$PYPL relative strength...This is one that has been consolidating and trying to move, so on a day like this I am asking, Why does this have relative strength? Is this turning into a value play from a tech play? Taking note and considering another attempt at a call, but if I do I'll protect myself with something to the downside.
Paypal (PYPL) getting interestingWas doing some weekend homework on stocks my social media followers are into while I watched the last few episodes of Billions and came to NASDAQ:PYPL . I've been watching this stock since it hit my alert at 195.59 in November. The last two weeks of price action have piqued my interest.
On the 30 minute timeframe (which I consider the swing trading timeframe) there have been two potential reversal patterns playing out. The first being an inverse head and shoulder defined by price spikes being bought up... followed by a short term Ichimoku/50% Retracement. The latter presents the favorable risk/reward scenario. Price getting back into the 180s would trigger a tight stop but if price holds this reversal a long term trader/investor would be good for the rise to retest the highs over the next year.
PayPal with possible 25% short-term returnHi Trader,
please see my current idea on the PayPal stock, which is giving us a perfect long entry in order to play this wave 4 retrace. If we hit target one it would give us a return of minimum 20%.
This is no financial advice, just my technical view of the stock market.
RT