Online payments giant 
PayPal gapped higher on a strong earnings report in late October. It had plenty of downward momentum at the time, and some resistance points around $108 prevented much follow-through. PYPL also slammed into its 200-day simple moving average (SMA) and a declining 50-day SMA.
But that was then, and this is now. Has the stock paid its dues as MACD ramps higher? A bullish note from Wedbush drove the shares above their channel on Monday, and they've consolidated there since. Now it looks like the old $108 resistance level is turning into support.
This gives traders a potentially key price area for risk management. As long as it holds, buyers may trickle in and look to ride PYPL back toward the old peaks above $120.
PayPal gapped higher on a strong earnings report in late October. It had plenty of downward momentum at the time, and some resistance points around $108 prevented much follow-through. PYPL also slammed into its 200-day simple moving average (SMA) and a declining 50-day SMA.But that was then, and this is now. Has the stock paid its dues as MACD ramps higher? A bullish note from Wedbush drove the shares above their channel on Monday, and they've consolidated there since. Now it looks like the old $108 resistance level is turning into support.
This gives traders a potentially key price area for risk management. As long as it holds, buyers may trickle in and look to ride PYPL back toward the old peaks above $120.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.