• Return to Headlines

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

By Nick Russo

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 $121.90 and $122.99 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 ($122.06) 29.5% above its average consensus price target of $86.03. The stock should discover initial support at its 50-day moving average (MA) of $112.63 and subsequent support at its 200-day MA of $109.78.

In the past 52 weeks, Paypal Holdings share prices have been bracketed by a low of $92.15 and a high of $123.00 and are now at $122.06, 32% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.2% while the 200-day MA has risen 0.3%.

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.

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 inside day candle paypal holdings

Ticker(s): PYPL