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

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Paypal Holdings (NASDAQ:PYPL) based on the price action in the company's shares. Yesterday's price range of $103.11 and $104.48 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. Traders and investors interested in shares of Paypal Holdings may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Paypal Holdings (NASDAQ:PYPL) is currently priced 17.3% above its average consensus analyst price target of $86.03. Paypal Holdings shares should encounter resistance at the 50-day moving average (MA) of $111.96 and support at its 200-day MA of $102.15.

In the past 52 weeks, Paypal Holdings share prices have been bracketed by a low of $74.66 and a high of $121.48 and closed yesterday at $104.02, 39% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has declined 0.4%.

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: bullish am inside day candle paypal holdings

Ticker(s): PYPL