The stocks of the largest debit payment system PayPal Holdings Inc. are correcting and trading at 74.00.
Despite the signs of the global economic crisis, the company sees prospects for development in 2023, as Chief Executive Officer Dan Schulman recently stated during a conversation with representatives of Deutsche Bank AG. According to him, the e-commerce industry may achieve more growth this year than previously expected, so PayPal Holdings Inc. plans to increase activity in the markets in the UK and Australia, where it has somewhat lost its leading position in recent years. In addition, Schulman shared the news regarding the search for his successor, noting that if he appears, he will be ready to leave the post of top manager earlier than December 31, 2023.
The financial report will be published on May 5, and at the moment analysts forecast revenue of 6.97B dollars, which is slightly lower than 7.4B dollars in the previous quarter, and earnings per share – around 1.10 dollars, which is comparable to 1.24 dollars earlier.
The correction trend continues on the daily chart, which keeps the price inside the global descending channel with dynamic boundaries of 60.00–78.00.
Technical indicators are holding a sell signal, but they are more clearly hinting at a possible correction: the range of the EMA fluctuations of the alligator indicator has begun to narrow again, and the AO histogram forms ascending bars, being in the sales zone.
Support levels: 71.50, 66.30. | Resistance levels: 76.70, 88.60.