Paypal Does it Again: Heads Up for the 5th Straight Day

The Daily View for Paypal

  • At the time of this writing, PYPL’s price is down $-0.67 (-0.27%) from the day prior.
  • It’s been a feast for bears operating on the daily timeframe, as Paypal has now gone down 4 of the past 5 days.
  • If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 day timeframes.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Paypal. Given that we see an uptrend on the 20 and 10 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Paypal’s hourly price chart is shown below.

PYPL

The Daily View for Paypal

  • Currently, PYPL’s price is up $1.87 (0.74%) from the day prior.
  • It’s been a feast for bulls operating on the daily timeframe, as Paypal has now gone up 5 of the past 5 days.
  • As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe.
  • The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Below is a daily price chart of Paypal.

PYPL

Featured Paypal Idea From TradingView

Below is a trading comment entitled PYPL To Retest 255 Resistance Level? you may find interesting:

The recent uptrend in PYPL is moving to $255 where there seems to be a strong resistance level. We should be cautious and watch what happens to the resistance at 255, if broken through and the trend moves higher I might be interested in placing OTM calls expiring 3+ months out. Conversely, if we see PYPL fail to close above 255 we could see a bearish move towards the 230’s, possibly retesting the lows at 225.

L2way