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.
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