Paypal Stock Forecast
Green day on Friday for Paypal stock after gaining 0.338%
(Updated on Apr 19, 2024)
The Paypal stock price gained 0.338% on the last trading day (Friday, 19th Apr 2024), rising from $62.10 to $62.31. During the last trading day the stock fluctuated 1.19% from a day low at $61.73 to a day high of $62.46. The price has fallen in 7 of the last 10 days and is down by -4.36% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 million more shares were traded than the day before. In total, 12 million shares were bought and sold for approximately $766.05 million.
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 7.38% during the next 3 months and, with a 90% probability hold a price between $64.22 and $72.59 at the end of this 3-month period.
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PYPL Signals & Forecast
Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Paypal stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $63.57 and $63.46. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -7.00%. 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
Paypal finds support from accumulated volume at $60.71 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.735 (1.19%) between high and low. For the last week, the stock has had daily average volatility of 2.46%.
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 Monday 22nd
For the upcoming trading day on Monday, 22nd we expect PayPal Holdings to open at $62.17, and during the day (based on 14 day Average True Range), to move between $60.65 and $63.97, which gives a possible trading interval of +/-$1.66 (+/-2.67%) up or down from last closing price. If PayPal Holdings takes out the full calculated possible swing range there will be an estimated 5.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $63.02 (1.14%) than the support at $60.71 (2.57%), 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.
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.
Current score: -2.446 Sell Candidate Unchanged
Predicted Opening Price for PayPal Holdings of Monday, April 22, 2024
Fair opening price April 22, 2024 | Current price |
---|---|
$62.17 ( 0.233%) | $62.31 |
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 | 62.90 | 0.95 % | |
R2 | 62.62 | 0.496 % | ||
R1 | 62.45 | 0.218 % | ||
Current price: | 62.31 | |||
Support | S1 | 61.88 | -0.683 % | |
S2 | 61.71 | -0.96 % | ||
S3 | 61.43 | -1.41 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 63.74 | 2.29 % | |
R2 | 63.24 | 1.49 % | ||
R1 | 63.02 | 1.14 % | ||
Current price | 62.31 | |||
Support | S1 | 60.71 | -2.57% | |
S2 | 58.91 | -5.46% | ||
S3 | 56.13 | -9.92% |
FAQ
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