The question on everyone's mind: Will PAYPAL HOLDINGS INC breakout?

PAYPAL HOLDINGS INC (NASDAQ:PYPL) has been identified as a Technical Breakout Setup Pattern by our stock screener. This pattern typically occurs when a stock takes a pause after a significant rise, indicating the possibility of a continuation in the trend. While it's impossible to predict with certainty, it might be beneficial to monitor NASDAQ:PYPL.

In-Depth Technical Analysis of NASDAQ:PYPL

ChartMill utilizes a proprietary algorithm to assign a Technical Rating to every stock. This rating, ranging from 0 to 10, is computed daily by analyzing a variety of technical indicators and properties.

Overall PYPL gets a technical rating of 7 out of 10. In the last year, PYPL was one of the better performers, but we do observe some doubts in the very recent evolution.

• Looking at the yearly performance, PYPL did better than 86% of all other stocks.
• PYPL is one of the better performing stocks in the Financial Services industry, it outperforms 77% of 99 stocks in the same industry.
• PYPL is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so PYPL is performing more or less in line with the market.
• The long term trend is positive and the short term trend is negative. It is probably better to wait until this picture becomes clearer.

Check the latest full technical report of PYPL for a complete technical analysis.

Why is NASDAQ:PYPL a setup?

Besides the Technical Rating, ChartMill also assign a Setup Rating to every stock. This setup score also ranges from 0 to 10 and determines to which extend the stock is consolidating. This is achieved by evaluating multiple short term technical indicators. NASDAQ:PYPL currently has a 8 as setup rating:

Besides having an excellent technical rating, PYPL also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 85.34, a Stop Loss order could be placed below this zone.

How can NASDAQ:PYPL be traded?

One way to play this would be to wait for the actual breakout to happen and buy when the stock breaks out above the current consolidation zone. A possible place for a stop loss would be below this zone.

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents technical observations generated by automated analysis but does not guarantee any trading outcomes. Always trade responsibly and make independent judgments.

Our Breakout screener lists more breakout setups and is updated daily.

Disclaimer

This article should in no way be interpreted as advice. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.