Paypal Stock Forecast
Weaker technical forecast for Paypal as stock downgraded to Sell Candidate.
(Updated on Apr 24, 2024)
The Paypal stock price gained 0.636% on the last trading day (Wednesday, 24th Apr 2024), rising from $64.43 to $64.84. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.67% from a day low at $64.02 to a day high of $65.09. The price has fallen in 6 of the last 10 days and is down by -1.58% for this period. Volume fell on the last day by -929 thousand shares and in total, 8 million shares were bought and sold for approximately $505.42 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 9.04% during the next 3 months and, with a 90% probability hold a price between $66.36 and $74.15 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
PYPL Signals & Forecast
The Paypal stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $63.37 and $63.85. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -3.22%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Paypal stock
On the downside, the stock finds support just below today's level from accumulated volume at $60.71 and $58.91. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Paypal finds support just below today's level at $60.71. If this is broken, then the next support from accumulated volume will be at $58.91 and $56.13.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.07 (1.67%) between high and low. For the last week, the stock has had daily average volatility of 2.08%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PYPL) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect PayPal Holdings to open at $64.65, and during the day (based on 14 day Average True Range), to move between $63.25 and $66.43, which gives a possible trading interval of +/-$1.59 (+/-2.44%) up or down from last closing price. If PayPal Holdings takes out the full calculated possible swing range there will be an estimated 4.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $65.05 (0.32%) than the support at $60.71 (6.37%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Paypal will release earnings BMO on Tuesday, April 30, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.20. We will update the financials statements for Paypal, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.11% in the first trading day after earnings release.
Is PayPal Holdings stock A Buy?
The Paypal stock holds several negative signals and despite the positive trend, we believe Paypal will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.313 Sell Candidate Downgraded
Predicted Opening Price for PayPal Holdings of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $64.65 ( 0.293%) | $64.84 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PYPL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 65.72 | 1.36 % | |
| R2 | 65.31 | 0.727 % | ||
| R1 | 65.06 | 0.337 % | ||
| Current price: | 64.84 | |||
| Support | S1 | 64.24 | -0.92 % | |
| S2 | 63.99 | -1.31 % | ||
| S3 | 63.58 | -1.94 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 66.67 | 2.82 % | |
| R2 | 66.14 | 2.00 % | ||
| R1 | 65.05 | 0.324 % | ||
| Current price | 64.84 | |||
| Support | S1 | 60.71 | -6.37% | |
| S2 | 58.91 | -9.15% | ||
| S3 | 56.13 | -13.43% |
FAQ
Click here for our free guide on how to buy Paypal Stock.
