The bottom may now have been reached for this hard-tested stock.
Technical Analysis of PayPal Holdings Inc. (ticker on Nasdaq: PYPL)
PayPal Holdings Inc. (PYPL) has shown a very weak development in recent years, but now several positive technical signals have been triggered for this hard-tested stock.
The share has broken out of a large falling wedge formation (cf. chart), and with that triggered positive technical signals for the further development going forward in the short and medium term.
Furthermore, the 50-day moving average has broken above the 200-day moving average, the so-called 'Golden Cross signal', which indicates that both the short-term and medium-term trend for the stock has now turned from negative to positive.
The share is also in the process of breaking above both the 200-day and 50-day moving averages, thereby providing further positive technical signals for further development going forward.
A large inverse head and shoulders formation has also been established for the stock, and where a break above a now important technical resistance level around USD 68.00 will trigger a strong technical buy signal for PayPal stock.
Then a further rise to around USD 120.00 will be signaled for the share in 3-6 months' time.
The PayPal share is currently around USD 61.80, and the share thus has the potential to double in the next 3-6 months.
What could possibly change the now positive technical picture for the PayPal share would be if it were to break below a now important technical support level for the share around USD 56.00.
With a share price today around USD 62.00, and with a stop-loss if it breaks below USD 56.00, and with a potential for the share in the 3-6 month term up to USD 120.00.
So the stock looks here today like a very interesting investment at today's price level, and with a very good risk-reward ratio.
PayPal Holdings Inc. (PYPL) has shown a very weak development in recent years, but now several positive technical signals have been triggered for this hard-tested stock.
The share has broken out of a large falling wedge formation (cf. chart), and with that triggered positive technical signals for the further development going forward in the short and medium term.
Furthermore, the 50-day moving average has broken above the 200-day moving average, the so-called 'Golden Cross signal', which indicates that both the short-term and medium-term trend for the stock has now turned from negative to positive.
The share is also in the process of breaking above both the 200-day and 50-day moving averages, thereby providing further positive technical signals for further development going forward.
A large inverse head and shoulders formation has also been established for the stock, and where a break above a now important technical resistance level around USD 68.00 will trigger a strong technical buy signal for PayPal stock.
Then a further rise to around USD 120.00 will be signaled for the share in 3-6 months' time.
The PayPal share is currently around USD 61.80, and the share thus has the potential to double in the next 3-6 months.
What could possibly change the now positive technical picture for the PayPal share would be if it were to break below a now important technical support level for the share around USD 56.00.
With a share price today around USD 62.00, and with a stop-loss if it breaks below USD 56.00, and with a potential for the share in the 3-6 month term up to USD 120.00.
So the stock looks here today like a very interesting investment at today's price level, and with a very good risk-reward ratio.
You are welcome to visit StockCharts365.com and read more technical analyzes there about shares in the US, shares in the Nordics, important stock market indices, currencies, cryptocurrencies and commodities.
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