Resistance

Billion

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Paypal stock price closed at $57.34 while observing a loss of 2.7% during the last intraday session.</a> </li> 
 <li> <span>2</span> <a>Paypal Holdings, Inc. announced a new Chief Executive Officer on September 27.</a> </li> 
 <li> <span>3</span> <a>The year-to-date return of Paypal stock is -22.19%.</a> </li> 
</ul> 
<p>At the end of May, PayPal (PYPL) stock price surged and entered an uptrend, rising from the support level of $59.30. The stock price advanced to 29.10% roughly from the support level, to form a high of $76.54. However, the bullish move was halted when the price reached near $77 and faced strong rejection.&nbsp;</p> 
<p>The second-quarter earnings report acted as fuel for the bearish momentum. However, PayPal did beat the consensus estimates of earnings per share and revenue, but investors remained disappointed about PayPal’s direction after an uninspiring Q2 report.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh3.googleusercontent.com/DA0Ba4FthxclS7YDiR8ZVl5xy0VaikgKd4oF6yj1YmjRp-M6KXqapImLIOgCqPpo0b7EXBrCBjvGmBw437f2gKRz7gcxahx2ZnVqQUIzu9jEyZ3Sdj-2PfyuL_v_hNLE0xP-BBJZ0YwVpSIpn3nna2k" alt="Paypal (PYPL) Stock: PYPL Stock Has Never Been This Cheaper"> 
  <figcaption class="wp-element-caption">
    Source: PYPL Stock Price By <a href="https://www.tradingview.com/x/5YBSZqAe/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>PYPL stock price melted to form a support at $57.30, falling below the support level from where the bullish rally started. The stock price has again retraced to $57.30 after retesting $64.80.&nbsp;</p> 
<p>The last candle did break the support level of $57.30 but was unsuccessful in closing below it. If the bears push the price below $57.30, it might melt toward the next support level of $55. On the other hand, if the stock price jumps above the $60 resistance level, it might retest the recent resistance level of $64.80.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-direction-of-paypal-stock-strong"><strong>Direction Of PayPal Stock</strong></h2> 
<p>Total payment volume increased 11% in the 2023 second quarter, and revenue jumped by 7%. For the full year, the management is guiding for a revenue rise of 8% and earnings per share of roughly $0.86, with adjusted EPS to climb by 13% to $1.23.</p> 
<p>Management has stated that the company is highly focused on generating more value from active clients and letting go of less active accounts. This strategy is bearing fruit, and transactions per active client increased 12% in the second quarter over last year.</p> 
<p>Alex Chriss has been appointed as President and CEO of <a href="https://www.thecoinrepublic.com/2023/09/19/paypal-pypl-slumps-2-after-rating-downgrades-will-it-heal/" rel="noopener noreferrer nofollow">PayPal</a> after the departure of CEO Dan Schulman on September 27. Schulman is planning to stay on the board until May 2024.&nbsp;&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-will-pypl-stock-price-fall-to-55-strong"><strong>Will PYPL Stock Price Fall To $55?</strong></h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh4.googleusercontent.com/yE95xBD59E8g1Av_Qh50N7UEejEORGkg4HZq_uJArouoAvNSHxtfWvOEvW4HLSBLvY6B0ejUzR68N6uZ6qTdvch0GdGnDnR3L5OxXMh-EmssEut4ypQ57eGlDzgp6NwU3qKk1e-zerkfBK12Eks90Qs" alt="Paypal (PYPL) Stock: PYPL Stock Has Never Been This Cheaper"> 
  <figcaption class="wp-element-caption">
    Source: PYPL Stock Price By <a href="https://www.tradingview.com/x/3qIjCcR6/" rel="noopener noreferrer nofollow">TradingView</a>. 
  </figcaption> 
 </figure> 
</div> 
<p>The <a href="https://www.thecoinrepublic.com/2023/09/19/paypal-pypl-slumps-2-after-rating-downgrades-will-it-heal/" rel="noopener noreferrer nofollow">stock price</a> has plunged below all the major exponential moving averages, indicating bearish momentum. The Chaikin money flow score has also plunged below the 0 mark and stands at -0.11, suggesting weakness and capital outflow from the market.&nbsp;</p> 
<p>The relative strength index has dropped to 33.96, nearing the oversold zone, indicating strong bearish momentum. If RSI enters into an oversold zone, there is a probability of a short-term pullback.&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Conclusion&nbsp;</strong></h4> 
<p>PayPal’s solid growth between 2014 and 2022 boosted operating income from $1.3 Billion to $4 Billion. Even if PayPal rises slowly from here on, the stock is a bargain. The PayPal stock is trading at a forward price-to-earnings ratio of 10, and PayPal’s stock has arguably never been cheaper.</p> 
<h5 class="wp-block-heading"><strong>Technical levels</strong></h5> 
<p>Support Levels: $52.80 and $55</p> 
<p>Resistance Levels: $64.80 and $76.30</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

Paypal (PYPL) Stock: PYPL Stock Has Never Been This Cheaper

Table of Contents

Thecoinrepublic.com

Other articles published on Sep 28, 2023

Brazil’s central bank to tighten crypto regulation as adoption surge

Fireblocks Platform Now Offers Institutions Access to Tezos

Shping and IBM Food Trust™ Pioneering a New Era of Product Transparency for Consumers (28 Sep)

Ethereum Price Forecast is Promising! Will Ethereum reach $2,000 soon?

How Ibiza’s most prominent nightclubs are jumping on the crypto trend

Police Make 12 Arrests, Seize $1 Million in Cash and $9.8 Million in Assets in JPEX Case

Join our free newsletter for daily crypto updates!