Chart of the day: PYPL

Today’s chart of the day is a recent IPO that almost all of us use for online purchases, Paypal.

PYPL has formed a few key levels that we can now trade off. First are the IPO lows and highs, which form an 8 point range between $34 and $42. Watch for either a pullback to the low or breakout of the highs for a good, low risk entry. The other two key levels are the gap fill and pivot areas annotated on the chart below.

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