Apple

Resistance

Daily

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>PYPL stock price witnessed selling pressure in the last trading few sessions.</a> </li> 
 <li> <span>2</span> <a>PayPal share price faced rejection from the 50-day EMA.</a> </li> 
</ul> 
<p>PayPal Holdings (NASDAQ: PYPL), PYPL stock price experienced a selloff and lost the initial gains on Monday’s trading session due to the rating downgrade by analysis firm SVB Moffett Nathanson. Analysts reduced the rating for PayPal stock from outperform to market perform and also cut the targets from $85 to $75. Sellers continued to show strength. Furthermore, analysts also said that PayPal stock will continue to face headwinds and declines due to growing competitors like Apple and Block. Moreover, PYPL stock is on a bearish track, showing sellers’ dominance. Furthermore, the former President of Intuit (INTU), Alex Chriss, will be Chief Executive Officer (CEO) of PayPal Holdings effective September 27.</p> 
<p>PayPal stock is in a downtrend and lost over 28% of gains from the start of 2023 till now and stayed in the bear trajectory. Furthermore, the chart shows the lower lows pattern and suggests follow-on selling will continue, and PYPL stock will reach $50 in the upcoming sessions. Moreover, the price action shows that the Q2 performance of PYPL stock was also neutral; the market reacted negatively, and a gap-down move was noted, which was not yet filled near $70. However, if PYPL stock sustains near $60, a substantial bounce can be anticipated toward $68.</p> 
<p>At press time, PayPal stock price is trading at $62.94 with an intraday drop of 1.98%, showing bearishness on the charts. Moreover, the trading volume increased by 1.90% to 14.278 Million, and the market cap is $69.11 Billion. Furthermore, analysts suggested neutral perspectives and a negative outlook based on the underperformance in the past few months.</p> 
<p>PayPal Holdings, Inc. engages in developing technology platforms for digital payments. Its solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and Paydiant products. It manages a two-sided proprietary global technology platform that links customers, consisting of merchants and consumers, to facilitate the processing of payment transactions. It allows its customers to use their accounts to purchase and pay for goods and transfer and withdraw funds.</p> 
<h2 class="wp-block-heading" id="strong-paypal-stock-shows-falling-channel-on-daily-charts-strong"><strong>PayPal Stock Shows Falling Channel on Daily Charts</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh6.googleusercontent.com/CGkmWmrsGoYdRubKxk-HjTl9wXIFDIEN0o6yHqT-l7uE8UE_znVf5Vs5MVtreHEfsJl9UvPEykJSXvefme49xiCEec8BmPNMQNxMcaX8TYj0Ac1rnAzEAujsVrKocuz01v-ie3HLYk_ziq3ym5UOZCk" alt="PayPal (PYPL) Slumps 2% After Rating Downgrades, Will It Heal?"> 
  <figcaption class="wp-element-caption">
    Source: PYPL Stock Price Chart At TradingView 
  </figcaption> 
 </figure> 
</div> 
<p>On the daily charts, <a href="https://www.thecoinrepublic.com/2023/06/20/pypl-stock-3-54-weekly-and-bullishness-is-attracting-investors/" rel="noopener noreferrer nofollow">PYPL stock price </a>forms a falling parallel channel and dragged the gains, making lower lows for the past sessions. Furthermore, the chart suggests weak cues, and PYPL stock may continue to underperform in the following sessions. Furthermore, the price is trading below the 50% Fib zone, indicating bear strength, and the technicals suggest that PYPL stock may retest the 38.2% zone near $50 soon.</p> 
<p>The RSI curve stayed near neutrality and showed a bearish divergence, indicating a volatile chart structure.</p> 
<p>The MACD indicator showed a bullish crossover and formed green bars on the histogram, suggesting that buyers are attempting to hold the 20-day EMA mark.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong></h4> 
<p>PayPal stock price is in a downtrend and faced a selloff, indicating seller dominance for the past sessions. Furthermore, the market sentiments for PYPL stock replicate negativity. The stock will continue to feel selling pressure in the coming sessions. Moreover, the stock is trading below the significant moving averages, suggesting a short-term negative outlook.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p><strong>Support Levels</strong>: $60 and $50</p> 
<p><strong>Resistance Levels</strong>: $65 and $70</p> 
<h4 class="wp-block-heading"><strong>Disclaimer</strong></h4> 
<p>The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.</p>

PayPal (PYPL) Slumps 2% After Rating Downgrades, Will It Heal?

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