Elliott Wave technical analysis for PYPL [Video]

Paypal Holdings Inc., (PYPL) is currently undergoing an Elliott Wave analysis, focusing on both the daily and 1-hour charts to assess its market structure and potential future movements. On the daily chart, PYPL is in wave 3 or C, characterized by strong upside potential. The equality level between wave 3 and wave 1 is at Trading Level 8 at $80, which often serves as a minimum target for wave 3 or C. This suggests that further upside is expected as wave {iii} continues to unfold, with a target of $80 being reasonable in the near term.

Switching to the 1-hour chart, PYPL is currently in wave (iv) of {iii}, where a triangle correction appears to be forming. Once this correction is completed, the stock is expected to resume its upward momentum towards the 1.618 Fibonacci extension of wave {iii} compared to wave {i}. This next leg up in wave (v) of {iii} could potentially push the price towards the projected target of $80. Overall, the technical analysis provided by Alessio Barretta suggests a bullish outlook for PYPL in both the short and long term.

In summary, the Elliott Wave analysis of Paypal Holdings Inc. (PYPL) reveals a strong trend with upward momentum in both the daily and 1-hour charts. The current wave structure indicates potential for further upside as wave 3 or C unfolds, with a target of $80 being a key level to watch. Additionally, the formation of a triangle correction in wave (iv) of {iii} on the 1-hour chart suggests a temporary pause before the stock resumes its upward trajectory towards the 1.618 Fibonacci extension. Overall, the analysis points towards a bullish outlook for PYPL, with the potential for a continued uptrend in the coming days and weeks.