Stock Market Technical Outlook Video for V and PYPL

V and PYPL Stocks weekly forecast Video for week Dec. 4th

This week we will be looking at two financial payment and credit giants.  Paypal PYPL which is dominating the online world and Visa V who is dominating the credit card world.   We will be looking at swing trade possibilities for these markets as the holiday season approaches.

On V

This coming week, we saw it take a massive dive from the yearly highs 113.50 down to 106.92. From 106.82 up to 107.65 is a nice demand zone that we see was formed back in October.  This would be the second bounce off this zone.  Given this action, I would say that this is a good pullback bar all in one day.  Now will it go lower, maybe I could see it going down to the demand zone from 104.90 up to 105.99 over the next week, but again this is just a retracement in the uptrend.  As it is the holiday season I would like to see this market continue up into $115.  However, price can do whatever it wants to.  But the moral of this story is just because we see one big red day doesn’t mean that there’s a new down trend just yet.

On PYPL 

We see almost the exact same thing as on visa today with a sharp red candle spanning a $6 move.  This candle is about 4 times bigger than the normal daily candle.  It also took the daily low back down into daily demand from 70.53 up to 72.07.  This move could cause some to panic but in my mind this again is still just a pullback in the direction of the trend.  On this market this year, we have seen a few big red candles that were the only red bar between the rest and it was the only pullback in the uptrend.  This could be the same kind of thing.  Overall from a technical analysis perspective, I still believe that paypal is doing really well and I see a good buying place not a panic to the bank.

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