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Possible Bearish Inside Day Candle Pattern Detected for Paypal Holdings (NASDAQ:PYPL)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Paypal Holdings (NASDAQ:PYPL) based on the price action in the company's shares. Today's price range of $102.23 and $103.23 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Paypal Holdings may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Paypal Holdings (NASDAQ:PYPL) defies analysts with a current price ($102.29) 15.9% above its average consensus price target of $86.03. The stock should run into initial resistance at its 200-day moving average (MA) of $104.87 and subsequent resistance at its 50-day MA of $105.17.

PayPal Holdings, Inc. operates as a technology platform company that enables digital and mobile payments on behalf of consumers and merchants. The Company offers online payment solutions. PayPal Holdings serves customers worldwide.

In the past 52 weeks, Paypal Holdings share prices have been bracketed by a low of $75.47 and a high of $121.48 and are now at $102.29, 36% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has declined 0.3%.

SmarTrend is monitoring the recent change of momentum in Paypal Holdings. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Paypal Holdings in search of a potential trend change.

Keywords: bearish inside day candle paypal holdings

Ticker(s): PYPL