Current trend

Shares of PayPal Holdings Inc., an American debit payment system, have been correcting upwards for the third week in a row against a short-term downtrend: the price reversed at the level of 57.81 (Murrey level [1/8]) and is now close to the central mark of the Murrey trading range at 62.50 (Murrey level [4/8]), consolidation above which can cause continued growth to the targets of 65.62 (Murrey level [6/8]) and 67.19 (Murrey level [7/8]).

The key for the "bulls" is the level of 59.38 (Murrey level [2/8]), supported by the central line of Bollinger Bands, the breakdown of which will ensure the resumption of downward dynamics to the lower limit of the trading range at 56.25 (Murrey level [0/8]) and further into the reversal zone to the level of 54.69 (Murrey level [˗1/8]), but such scenario seems less likely so far.

Technical indicators confirm the possibility of further growth: Bollinger Bands are reversing up after a decline, MACD is decreasing and preparing to move into a positive zone, while Stochastic is directed upwards, but approaches the overbought zone.

Support and resistance

Resistance levels: 62.50, 65.62, 67.19.

Support levels: 59.38, 56.25, 54.69.

Trading tips

Long positions can be opened above 62.50 with targets of 65.62, 67.19 and stop-loss around 60.90. Implementation period: 5–7 days.

Short positions should be opened below the 59.38 mark with targets of 56.25, 54.69 and stop-loss around 61.30