PYPL — gap-reversal

Summary

Strong sector for tech services. Rumors of a declined acquisition bid made it gap down. Earnings are steady and good. For a market cap this big, a 12.5% opening gap is too big. The premarket gap got as low as 18%! I waited for the price to play out and got in after it broke a 3-bar consolidation to keep going up. A gap this big usually stalls the price, so I got out as soon as that push lost momentum.