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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. Today's price range of $109.00 and $109.57 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, 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 ($109.44) 21.4% above its average consensus price target of $86.03. Paypal Holdings shares have support at the 50-day moving average (MA) of $104.59 and additional support at the 200-day MA of $91.50.

Paypal Holdings share prices have moved between a 52-week high of $113.69 and a 52-week low of $74.10 and are now trading 48% above that low price at $109.44 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 1.0%.

SmarTrend recommended that subscribers consider buying shares of Paypal Holdings on January 4th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $85.14. Since that recommendation, shares of Paypal Holdings have risen 28.9%. We continue to monitor PYPL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle paypal holdings

Ticker(s): PYPL