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PayPal Holdings Inc., Expecting a Strong Quarterly Report

12/20/2022 2:08 PM

Stocks of the largest debit payment system PayPal Holdings Inc. are declining and trading at 69.00.

The quotes continue a smooth downward trend, having reached the minimum of the year at 68.00 at yesterday's auction. Despite this, many experts do not see any prospects for the continuation of the negative trend in the future. Thus, analysts of Morgan Stanley financial holding believe that the decline is a reaction to the situation with the bankruptcy of the FTX exchange. On the other hand, experts note the clear advantage of PayPal Holdings Inc. over competitors due to the expansion of the functions of the digital wallet. This was recently stated by management, which announced an agreement with ConsenSys, thanks to which MetaMask will become the first Web3 wallet in which the function of the ability to purchase Ethereum for 1.0% via a mobile application will be available. For exchange transactions with ETH, users will use PayPal accounts.  

Analysts are also positive about the company's upcoming report, which will be published on February 1. Thus, revenue is expected to be around 7.41B dollars, up from 6.85B dollars in the previous quarter, and earnings per share may be 1.19 dollars, up from 1.08 dollars earlier.

On the daily chart the correction trend continues, which is a narrow descending channel, within which the price has reached the support line.

Technical indicators still hold a sell signal: the range of EMA fluctuations of the alligator indicator has again begun to expand in the direction of decline, and the AO histogram forms descending bars, falling in the sales zone.   

Support levels: 66.00, 58.00. | Resistance levels: 71.60, 84.00.

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