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PYPL - Elliott Wave Analysis
From the first day of listing we see a 5 waves up, an impulsive wave up, with something very interesting: Wave 5 is almost a truncation or failure. Which it meant that the fallowing correction will be very dramatic.
That is exactly what it happened.
From the top of wave 5 $309 price we see a big drop the unfolding correction. So far we had wave A subdivided in 5 waves as in the graphic above, Wave B corrective subdivided in a-b-c-d-e traveling sideways.
I see Wave C unfolding in 5 waves down. With the bottom in the region of $68-$83 supported by the guideline of equality between waves A and C and the previous support held by the price.
Disclaimer: This is my analysis and does not constitute financial advice.
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