PYPL and SQ stocks weekly forecast
This week we will be looking at two payment gateway giants as we examine Paypal (PYPL) and Square (SQ). We will be looking at swing trade possibilities for these markets.
we can easily see that price is in a strong uptrend. The only question is where do we jump on. I don’t recommend jumping on this market to the long side just yet. As price is likely to come back down first as all markets move in waves. The best thing to do is just wait for another wave to come in. Now as we look to surf the uptrend, Look out for the daily demand zone form from 70.53 up to 72.07. This is the area that I would be waiting for price to pullback to before trying to get long on this market. Now what if that doesn’t happen? That is a good question. My response to that would be that we really just have to wait until price retests demand. The only other option would be for someone to look to take it the other way, short. I would not recommend this as it’s way too early to say this market is anything other than a uptrend. The best thing to do with this market right now is wait for price to come off the highs.
This market has been in an uptrend just like that of Paypal. Really the only difference is price levels and areas of pullback. On this market, I would like to see a bigger pullback as price would need to move back down to 32.61 daily demand zone going from 32.61 down to 31.44. It’s hard to tell if price will move down that far but it would be a great area to jump onto the long. Now if price doesn’t get down that far then there really is no place right now to jump onboard other than using a smaller timeframe to limit your risk.
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