PYPL closes within previous day's range
PYPL ended the week 2.14% higher at 87.01 after losing $0.16 (-0.18%) today. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Friday's trading range was $2.02 (2.33%), that's slightly below last trading month's daily average range of $2.10. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly above average.
Unable to break through the key technical resistance level at 87.55, PayPal closed below it after spiking as high as 88.03 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward. After having been unable to move above 88.09 in the previous session, the share ran into sellers again around the same price level today, failing to move higher than 88.03.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying could speed up should prices move above the close-by swing high at 88.09 where further buy stops might get triggered. Selling could accelerate should prices move below the nearby swing low at 85.86 where further sell stops might get activated.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
Market Conditions for PayPal
|Close to R1 Resistance||TQ Pro Members Only|
|2 Consecutive Higher Closes||TQ Pro Members Only|
|High close to previous High||TQ Pro Members Only|
|Bullish Intraday Reversal||TQ Pro Members Only|
|Hammer||TQ Pro Members Only|
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