More Downside Pain A head

29 oct. 2021

PYPL - is already on a bearish trend It has gone below 200MA and the last time it did was the Infamous 2020March crash.

Last time it finds support after 24% (below 200MA) and this time it is already gone blow approx 10% below 200MA and the support line is around 212is which again another 9.45% down from the current level.

Also, RSI is around the support level but in the past, RSI has gone below this support level.

So what could happen?

8 days to earning, this could go flat till the earning and any miss in the earning will send the stock another 9-10% but if there is any positive sign sent this to quickly sent back to 260-270level (above 200 MA)

Whatever it is PYPL in long term is a good bet so any OTM long calls could reward nicely but short term the pain will continue.

(this is not a financial advise, just some thoughts)