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PayPal Holdings Inc., Technical Analysis
8/30/2022 11:47 AMThe shares of PayPal Holdings Inc., the American debit payment system, are correcting around 92.00.
On the daily chart, the price is above the resistance line of a wide downwards channel with dynamic boundaries at 55.00–85.00, however, a trend change is unlikely since an attempt to overcome the local high at the beginning of the month at 102.00 was unsuccessful.
On the four-hour chart, it is clearly seen that also to the rebound of quotes from the local high, the formation of the reversal Head and shoulders pattern with the Neck line at 90.00 has almost completed, which significantly increases the prospects for decline.
Technical indicators have weakened the buy signal: fast EMAs on the Alligator indicator are approaching the signal line, and the AO oscillator histogram is forming downward bars in the buying zone.
