Can PayPal Buyers Maintain Control?

by at FXTM.
Tran Dai Phat
Tran Dai Phat

PayPal (NASDAQ: PYPL) on the Daily Chart has been in an uptrend since 3 November 2020 when it registered the low price at 174.8, followed by a series of higher tops and higher bottoms. On 14 January 2021, the PayPal recorded the high price of 249.84.

MACD & RSI Analysis

When applying Oscillator Analysis to the price chart, one can see that price is trading above the SMA 60 period Moving Average line, a fact which confirms the stock’s upward direction.

The Moving Average/Convergence Divergence (MACD) Oscillator is recording values above the zero line which hints to the bullish bias of the financial instrument.

Additionally, the Relative Strength Index (RSI) Oscillator registers values above the fifty line which indicates positive sentiment.

All three technical indicators are in agreement with the upward bias of the pair.

Fibonacci Levels

Three price targets may be calculated upon applying the Fibonacci tool to the price chart.

  • The first price target is estimated at 254.63 (161.8%),
  • The second is seen at 272.50 (261.8%).
  • The third price target is projected at 301.42 (423.6%).

PayPal stock is currently trading above the uptrend line. The RSI Oscillator and price display a negative divergence which could push prices lower as long as supply is greater than demand.

Of course, supply and demand as well as the crowd sentiment will determine the future course of the stock.

Paypal Daily 21st Jan

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