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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 $99.39 and $100.69 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.

In the past 52 weeks, shares of Paypal Holdings have traded between a low of $74.66 and a high of $121.48 and closed yesterday at $99.89, which is 34% 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 0.7%.

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) is currently priced 13.9% above its average consensus analyst price target of $86.03. The stock should find initial resistance at its 200-day moving average (MA) of $104.45 and further resistance at its 50-day MA of $105.66.

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: bullish am inside day candle paypal holdings

Ticker(s): PYPL