Current trend

Shares of PayPal Holdings Inc., an American debit payment system, are adjusting at 64.00.

Yesterday, the emitter's financial report for the second quarter was published: the total volume of payments increased by 11.0% to 417.0 billion dollars, while net revenue increased by 9.0% excluding currency fluctuations. Non-GAAP earnings per share increased by 36.0% compared to the same period a year earlier, to 1.19 dollars. The total volume of payments of the Venmo service exceeded 73.0 billion dollars, and the number of active users – 62.0 million. The management also noted the successful completion of the 1.5 billion dollars share repurchase program, which is planned to be extended in the next period.

In addition to the publication of the financial report, PayPal Holdings Inc. announced changes in the composition of the board of directors: after John Donahoe, who is retiring after nine years at the company, Enrique Lores, who has been a member of the board since 2021 and also holds the posts of president and CEO of HP Inc., became the new independent chairman.

Support and resistance

The corrective trend continues on the D1 chart of the asset, and the price is held above the support line of the side channel with the boundaries of 68.00–57.00.

Technical indicators are ready for a new reversal and the issuance of a buy signal: the range of fluctuations of the EMAs of the Alligator indicator is actively narrowing again, and the AO histogram forms corrective ascending bars, being in the sales zone.

Support levels: 62.40, 58.80.

Resistance levels: 64.90, 68.00.

Trading tips

In the event of a reversal and continued growth of the asset, as well as price consolidation above the maximum of 64.90, one may open long positions with the target of 68.00 and stop-loss of 64.00. Implementation period: 7 days and more.

If the asset continues to decline and the price consolidates below the support level of 62.40, one can open short positions with the target of 58.80 and stop-loss of 64.00.