PayPal is one of the undisputed kings of Silicon Valley, commanding loyalty from business owners and individuals with its easy-to-use platform. Almost everyone I know uses PayPal – and I’m sure you can say the same. It was spun off from eBay this past summer, and since then, PayPal has been moving within a range. Now, however, it looks ready to move strongly to the upside.
PayPal Stock Chart (Nasdaq: PYPL)
The chart shows some great potential. On Monday, the name broke through a resistance level on solid volume, the MACD is still on a buy signal, relative strength is impressive, and the recent crossover of the shorter term moving averages acts as support for a move higher.
Though momentum indicators are overbought, there is no reason to sell. Price is above the upper bollinger band, and it could be setting up for a nice fat tail move. PayPal could very well move back to its old highs in the 40’s.
PayPal Video Chart Analysis
Take a deeper dive into the chart action (Nasdaq: PYPL) and learn how to read the technicals and my analysis as Bob Lang marks up our chart of the week.
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About PayPal Holdings
PayPal Holdings, Inc. operates as a technology platform company that enables digital and mobile payments on behalf of consumers and merchants worldwide. It enables businesses of various sizes to accept payments from merchant Websites, mobile devices, and applications, as well as at offline retail locations through a range of payment solutions across companys payments platform, including PayPal, PayPal Credit, Venmo, and Braintree products. The companys platform allows customers to pay and get paid, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies. The company was founded in 1998 and is based in San Jose, California. PayPal Holdings, Inc. is a subsidiary of eBay Inc.
