- Paypal Stock Price has been trading with strong bullish momentum from 19th January over the daily time frame chart.
- PYPL stock price has recovered above 20 and 50-EMA while sustaining at 100-days Daily Moving Average to reach 200-days DMA.
- An electronic replacement for conventional paper methods like checks and money orders, PayPal Holdings, Inc. is an American multinational financial technology firm that operates an online payments system in most countries that permit online money transfers.
Paypal stock price has surged around 1.26% during the day’s trading session and is witnessing increased buying. PYPL share price has been trading inside a long term consolidation phase. Meanwhile, buyers are trying to provide a kickstart to the stock price to surge towards the upper price range of the horizontal range-bound area. Paypal stock price must continue this bullish rally to recover itself over the daily time frame chart.
Paypal stock price was at $81.83 and has gained 1.26% of its market capitalization during the day’s trading session. Trading volume is trying to soar towards the average.
Paypal stock price has increased by 8.41% in the bullish rally from 19th January. PYPL share price must increase the accumulation rate for PYPL to rise maximum. However, volume change can be seen below average and needs to grow for PYPL stock price to continue rallying. Meanwhile, PYPL stock price has recovered above 20 and 50-EMA while sustaining at 100-days Daily Moving Average to reach 200-days DMA.
Will Paypal Stock Price Continue this Momentum?
Technical indicators suggest the uptrend momentum of paypal stock price over the daily time frame chart. Relative Strength Index showcases the uptrend momentum of PYPL shares. RSI is at 64 and is heading towards overbought territory. MACD exhibits a strong upside trend of PYPL share price. The MACD line is way ahead of the signal line.
Summary
Paypal share price has surged around 1.26% during the day’s trading session and is witnessing increased buying. PYPL share price has been trading inside a long term consolidation phase. Meanwhile, PYPL stock price has recovered above 20 and 50-EMA while sustaining at 100-days Daily Moving Average to reach 200-days DMA. Technical indicators suggest the uptrend momentum of paypal share price over the daily time frame chart.
Technical Levels
Support Levels: $78.00 and $75.00
Resistance Levels: $83.00 and $90.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/01/28/buyers-on-move-over-paypal-holdings-inc-paypal-stock-price-nasdaq-pypl-surge-by-8/