“Aug 25th, 2022 Trader’s Bullish call $PYPL” – PYPL is making the double bottom and V shape on 4 hrs chart. Today, the market rallied in anticipation of Powell’s talk the next morning. The machine/algorithm is driving the current market. $SPX closed pretty much at 4200 psychological level before Powell’s talk on Friday morning.
Trader’s Bullish call on PayPal ($PYPL)
If $SPY tries to fill out 422 gap tomorrow then higher chance that PYPL will continue on the V shape rally based on the double bottom as shown in the chart below. We can see some squeeze in PYPL tomorrow if the market rallies. It can go towards $100 mark easily. Keep an eye on that. Good luck! – Trade smartly tomorrow as a lot of volatility will be there.
At the bottom of the chart are my indicators – CCI, Stochastic, and RSI. You can read the significance of each by googling them. I keep them as my leading indicators.
RSI is still not overbought in 4 hrs chart so I am looking forward to it. Longer-term out-of-money call options better play in this compared to weekly if in case the market takes a U-turn in the morning.