WHY I AM BULLISH ON PAYPAL FOR 2024

PayPal is currently sitting -22.66% YTD, while fintech has been mostly obliterated throughout 2023 due to SVB, Treasury Yields, etc.

However I see PayPal having an extremely bullish 2024, similar to what the magnificent 7, & more specifically Bitcoin, has seen in 2023.

LET'S BREAK IT DOWN

ON YOUR LEFT WE HAVE THE PYPL MONTHLY VIEW, RSI BOTTOMED ON JUNE 1, 2022 ALONG WITH REST OF EQUITIES & HAS RISEN SINCE THEN... HOWEVER PRICE HAS NOT!!!!

This, my friends, is bullish divergence, WHEN PRICES MOVE LOWER & RSI MOVES UP, A MASSIVE BULLISH MOVE ALWAYS TAKES PLACE

SINCE THIS IS ON A MONTHLY CHART, THE BULLISH MOVE FOR PAYPAL COULD BE EPIC!!!!


ON YOUR RIGHT WE HAVE THE BTC WEEKLY CHART

THE SAME PHENOMENON AS PYPL BUT ON A SMALLER WEEKLY TIME SCALE:

- RSI BOTTOMED ON JUNE 13, 2022, PRICES MOVED LOWER THROUGH REMAINDER OF YEAR UNTIL 2023, WHILE RSI MOVED UP!


Thanks to our weekly bullish divergence on BTC, Bitcoin is currently up 127% YTD. AND THE BITCOIN HALVING HASN'T EVEN HAPPENED YET!!!


I believe PayPal will have a similar & much stronger bullish phenomenon in 2024, Simply because of the technicals shown here &...

- A more dovish Federal Reserve that will be more willing to cut rates & inject liquidity across multiple sectors of the market

- Since inflation will be back in the sub 2% range, soft landing takes place, Economy normalizes