Today’s instrument is the PayPal Holdings Inc. stock traded in the Nasdaq exchange under the ticker PYPL.
Image Source: Pixabay
If we look at the PYPL Daily chart, we can see since its all-time high by the end of July its been down-trending. It experienced a sell-off right after that all-time high and another in early September, 12% and 14% respectively. Also, there was another yesterday, briefly reaching 6.8% intraday but closing the day with 4.7%. This was mainly a reaction to news about acquiring the social media site Pinterest. Nearest support can be found at $252 and closest resistance at $275. Its last traded price was $258.
PayPal Holdings Inc. has scheduled a third-quarter earnings announcement today, 21/10/2021. If the earning expectations are surpassed, we could expect the price to move upwards, towards the $272 price level.
Today, we could expect a move upwards near the $275 resistance level.
If however, it fails to hold above the current price range of $258 then a case can be made for moving towards the closest support level at $252.
(Click on image to enlarge)
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