Will PAYPAL HOLDINGS INC Break Out? A Technical Analysis Perspective.

Our stock screener has detected a potential breakout setup on PAYPAL HOLDINGS INC (NASDAQ:PYPL). This breakout pattern is observed when a stock consolidates following a strong upward movement. It's important to note that this pattern is based on technical analysis, and the actual breakout outcome is uncertain. However, it might be worth keeping an eye on NASDAQ:PYPL.

Deciphering the Technical Picture of NASDAQ:PYPL

As part of its analysis, ChartMill provides a comprehensive Technical Rating for each stock. This rating, ranging from 0 to 10, is updated on a daily basis and is based on the evaluation of various technical indicators and properties.

Overall PYPL gets a technical rating of 8 out of 10. Both in the recent history as in the last year, PYPL has proven to be a steady performer, scoring decent points in every aspect analyzed.

• Both the short term and long term trends are positive. This is a very positive sign.
• Looking at the yearly performance, PYPL did better than 86% of all other stocks.
• PYPL is part of the Financial Services industry. There are 99 other stocks in this industry. PYPL outperforms 77% of them.
• 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.
• In the last month PYPL has a been trading in the 84.50 - 93.66 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

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

How do we evaluate the setup for NASDAQ:PYPL?

ChartMill takes into account not only the Technical Rating but also assigns a Setup Rating to each stock. This rating, on a scale of 0 to 10, reflects the degree of consolidation observed based on short-term technical indicators. Currently, NASDAQ:PYPL exhibits a 9 setup rating, indicating its consolidation status in recent days and weeks.

PYPL has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 91.02. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 87.93, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

Trading setups like NASDAQ:PYPL

A breakout opportunity may arise when the stock surpasses the current consolidation zone and reaches new highs. Traders often wait for this breakout before considering buying the stock. To manage risk, a stop loss order could be placed below the consolidation zone to limit potential losses.

Please note that this article should not be construed as trading advice. The information provided is solely based on automated technical analysis and serves to highlight technical observations. It is important to conduct your own analysis and make trading decisions based on your own judgment and responsibility.

Every day, new breakout setups can be found on ChartMill in our Breakout screener.

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.