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

By Amy Schwartz

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. Yesterday's price range of $102.23 and $103.23 is within the prior day'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 share prices have moved between a 52-week high of $121.48 and a 52-week low of $75.47 and closed yesterday at 36% above that low price at $102.29 per share. The 200-day and 50-day moving averages have moved 0.27% higher and 0.15% lower over the past week, respectively.

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.

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 find initial resistance at its 200-day moving average (MA) of $104.97 and further resistance at its 50-day MA of $105.12.

SmarTrend is tracking the current trend status for Paypal Holdings and will alert subscribers who have PYPL in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle paypal holdings

Ticker(s): PYPL