Elliott Wave Technical Analysis: PayPal Holdings Inc. - Thursday, Oct. 31

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PayPal Holdings Inc., (PYPL) Daily Chart

PYPL Elliott Wave Technical Analysis

FUNCTION: Counter Trend

MODE: Corrective

STRUCTURE: Complex

POSITION: 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 Chart

PYPL Elliott Wave Technical Analysis

FUNCTION: Counter Trend

MODE: Corrective

STRUCTURE: Complex

POSITION: 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 Barretta

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