FX.co ★ Elliott wave analysis of PayPal for February 17, 2022

PayPal peaked in July 2021 at 310. Since then, it has been declining. The downward movement seems limited and strong support will be found close to 109. We also see positive divergence on the RSI indicator telling us. It may signal a rise in the short term. The first upside target is seen at 183. However, it may grow to 197.

In the short term, we need a break above minor resistance at 115.60 to confirm that a low is in place and a larger rally is in motion for a rally towards the 183 target.