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PayPal Holdings Inc., Technical Analysis

8/16/2022 12:09 PM

The shares of PayPal Holdings Inc., an American debit payment processor, are correcting around 101.00.

On the daily chart of the asset, the price is moving above the resistance line of a wide downwards channel with dynamic boundaries of 55.00–85.00, which it has broken with a price gap.

On the four-hour chart, it is seen that the probability of continuation of the upward dynamics is quite high, and the key resistance for quotes at the moment is the initial Fibonacci correction of 23.6% around 125.00, and the last week’s local low at 94.60 is the support level.

Technical indicators confirm the high probability of growth, keeping a stable buy signal: fast EMAs on the Alligator indicator remain above the signal line, and the AO oscillator histogram forms new rising bars in the buying zone.

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