Anticipating PYPL's Bounce Off Symmetry Support

Sometimes you just need to back up and look at the bigger picture....We did this in the case of PYPL.

On the weekly time frame, that is where we found that the most recent decline in PYPL was just similar to some of the other prior declining swings.  Note they had lasted from 40.82 - 44.25.  

These symmetry projections also overlapped a couple of key retracements back to the last low.  For this reason we watched to see if this zone would hold up.  

So far, the low was made the week of 8/20 and we're finally seeing a nice move off the zone.  Now if we can clear the next hurdles on the way up, my potential target #1 off the low comes in at 322.01.  Lets see if we can get some follow through!

Carolyn Boroden, who is renowned for her expertise in Fibonacci price and timing analysis, hosts the Fibonacci Market Analysis service at ElliottWaveTrader.