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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. Yesterday's price range of $83.79 and $85.68 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.

In the past 52 weeks, Paypal Holdings share prices have been bracketed by a low of $68.61 and a high of $93.70 and closed yesterday at $84.26, 23% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has declined 0.6%.

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) has potential upside of 2.1% based on a current price of $84.26 and analysts' consensus price target of $86.03. The stock should find initial support at its 50-day moving average (MA) of $83.84 and further support at its 200-day MA of $82.93.

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 am inside day candle paypal holdings

Ticker(s): PYPL