PYPL Elliott Wave Analysis Trading Lounge PayPal Holdings Inc., () Daily ChartPYPL Elliott Wave Technical AnalysisFUNCTION: Counter TrendMODE: CorrectiveSTRUCTURE: ComplexPOSITION: 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.PayPal Holdings Inc., (PYPL) 1H ChartPYPL Elliott Wave Technical AnalysisFUNCTION: Counter TrendMODE: CorrectiveSTRUCTURE: ComplexPOSITION: Wave {i} of A.DIRECTION: Downside in wave {iii}DETAILS: Looking for a 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.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.* 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 – 1H 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.Technical Analyst: Alessio BarrettaMore By This Author:
Elliott Wave Technical Analysis: PayPal Holdings Inc. – Thursday, Oct. 31
