#Gold #SP500 We’re always quick to ridicule retail banks but PayPal are in a league of their own. Once regarded as “just” the online portal for eBay, now they issue cards, payment terminals, and apparently offer business finance. It’d be true to say we’ve always found them helpful to deal with, a voice at the end of a phone willing to exercise common sense when an issue with a transaction occurs.
Their share price has accelerated upward fairly remorselessly over the years, the value quickly exceeding the level before the Covid-19 dip and now looks poised to boldly go higher again.
We’ve a little problem worth mentioning, one which may prove important due to their earnings report being announced after the close on the 29th July. The immediate situation suggests movement continuing above 186 should hopefully attempt an initial 193 with secondary, if exceeded, a marginally more interesting 197 dollars. The proximity of both targets worries us a little as this sort of calculation will often point to the presence of a Glass Ceiling for movements, suggesting some hesitation is imminent.
Crucially, should PayPal manage to exceed 197 dollars in the days ahead, it enters uncharted territory as we simply cannot calculate any higher.
Should trouble make itself known, the share price needs weaken below 164 dollars as this threatens reversal to an initial 152, hopefully producing a level at which the price bounces. In the event any weakness makes its way below 152 dollars, the price could easily continue reversal toward 121 dollars and hopefully a price level regarded as “bottom”.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:32:38PM | BRENT | 44.17 | |||||||||
| 9:36:13PM | GOLD | 1969.17 | 1941 | 1928.5 | 1911 | 1961 | 1973 | 1986.5 | 1998 | 1950 | ‘cess |
| 9:45:40PM | FTSE | 6152.82 | Shambles | ||||||||
| 9:52:11PM | FRANCE | 4977 | ‘cess | ||||||||
| 10:04:53PM | GERMANY | 12894 | |||||||||
| 10:12:18PM | US500 | 3262 | 3211 | 3198.5 | 3176 | 3233 | 3266 | 3274 | 3295 | 3221 | |
| 10:15:33PM | DOW | 26573 | ‘cess | ||||||||
| 10:19:18PM | NASDAQ | 10708 | |||||||||
| 10:21:15PM | JAPAN | 22530 | ‘cess |