Let's take a look at the long term trend and price action of PYPL (Paypal) through the usage of technical analysis. Paypal is one of the companies that revolutionized the way we pay things.
I'm sure most people who buy things online would have encountered Paypal when checking out of your shopping cart. Perhaps you are a vendor that is using one of their services.
Looking at the long term chart of PYPL, I think they have been doing a great job in increasing their business.
All right, this is a relatively new stock since the price only goes back to a few years back. I mean they have been in business for a long time but only listed in the stock market recently.
Looking at the weekly stock chart above you can see that its direction is up up and away.
Despite any bad news or challenges, the rising stock price shows that Paypal is expanding and its business is just getting better.
The stock is still above its rising weekly 20 MA and 50 MA. This is a picture of strength and it tells us that we should be bullish bias on this stock for the long term.
The daily stock chart can be a bit messy. But recently its moving averages have been moving up nicely. All three moving averages are pointing up showing us that the uptrend is good. And the fact that the faster moving averages are above the slower moving averages tells us that the trend is good.
Well as long as the moving averages are pointing up, we should continue to have a bullish bias on this stock.
Dips and breakout area playable.
The 60 min chart shows that the current 60 min uptrend is being threatened. The stock has recently traded below its 60 min 20 MA and 50 MA and if the stock drops below the low of the recent move, then more selling is likely to happen.
Well let's see if a double bottom or a 60 min cup with handle can form. If the pattern forms, then it is likely to continue to move up again.
Hope this helps!
Charts with the Freestockcharts.com label are courtesy of Freestockcharts.com
Charts with the investing.com logo are courtesy of Investing.com powered by Trading View
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