Paypal Stock Forecast
Paypal stock upgraded to Hold/Accumulate.
(Updated on May 24, 2024)
The Paypal stock price gained 0.0974% on the last trading day (Friday, 24th May 2024), rising from $61.58 to $61.64. During the last trading day the stock fluctuated 1.29% from a day low at $61.27 to a day high of $62.06. The price has risen in 6 of the last 10 days but is still down by -2.05% for this period. Volume fell on the last day by -3 million shares and in total, 8 million shares were bought and sold for approximately $484.73 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 has broken the wide and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $61.64. A reaction back to this level may hold a second chance to get out before further falls.
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PYPL Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, May 23, 2024, and so far it has risen 0.0974%. Further rise is indicated until a new top pivot has been found. 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. The Paypal stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $63.27 and $64.53. A break-up above any of these levels will issue buy signals. 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 $59.01 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 $0.790 (1.29%) between high and low. For the last week, the stock has had daily average volatility of 2.07%.
Our recommended stop-loss: $58.03 (-5.86%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 18 days ago.)
Trading Expectations (PYPL) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect PayPal Holdings to open at $61.66, and during the day (based on 14 day Average True Range), to move between $60.10 and $63.18, which gives a possible trading interval of +/-$1.54 (+/-2.51%) up or down from last closing price. If PayPal Holdings takes out the full calculated possible swing range there will be an estimated 5.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $59.01 (4.27%) than the resistance at $66.14 (7.30%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is PayPal Holdings stock A Buy?
Paypal holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.895 Hold/Accumulate Upgraded
Predicted Opening Price for PayPal Holdings of Tuesday, May 28, 2024
| Fair opening price May 28, 2024 | Current price |
|---|---|
| $61.66 ( 0.0270%) | $61.64 |
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 | 62.45 | 1.31 % | |
| R2 | 62.14 | 0.82 % | ||
| R1 | 61.96 | 0.517 % | ||
| Current price: | 61.64 | |||
| Support | S1 | 61.35 | -0.463 % | |
| S2 | 61.17 | -0.765 % | ||
| S3 | 60.87 | -1.25 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 67.92 | 10.19 % | |
| R2 | 66.99 | 8.68 % | ||
| R1 | 66.14 | 7.30 % | ||
| Current price | 61.64 | |||
| Support | S1 | 59.01 | -4.27% | |
| S2 | 58.50 | -5.09% | ||
| S3 | 58.27 | -5.47% |
FAQ
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