Following up on $PYPL

$PYPL

Most of my follow-up pieces are in names that I have just become comfortable trading. I’ve found success concentrating in a few names and learning how they move. I will expand beyond that based on themes I’m observing in markets, but usually at smaller position sizes, until a level of comfort is achieved. PYPL 0.00%↑ is a name that’s been on my radar for a long time. The most recent post is here -

https://732charts.substack.com/p/pay-attention-to-paypal

This stock has been an unmitigated disaster for too long. A second consecutive earnings related gap down has it only just a few bucks above multi-year lows that were reached in May of this year. Why does it still interest me? 1. It’s peaking above its 5 day MA, and I’ve observed notable call/put volume in a few recent sessions. 2. The earnings related sell-off was somewhat orderly, as the stock never breach an oversold RSI reading.

Recipe for a winner? Not usually. But a move above that orange AVWAP from the earnings gap down will have me eyeing this one for a trade at the least.