PayPal Inc - Daily

Paypal has seen better market days, but signs of stabilisation are showing as the stock might have found a support base.

From a technical overview, support is located at $68.50 If a break below this was to happen the stock would then head back towards levels last seen in 2017. $68.50 is key crucial support for Paypal and if a break was to happen the outlook for the stock would be very negative.  Looking at the technical indicators RSI reads 54 and MACD is neutral, suggesting a current neutral position. Taking a look at the upside with the utilisation of the Fib, a tough resistance level sits at $126 where also the March cluster sits. A break of this 23.6% retracement could create an opportunity for a further uptrend towards the 38.2% retracement ($163). This is where the next resistance sits with a swing high of $173 acting as another minor resistance. Overall, the stock is currently stable as it has formed a support base with potential for an uptrend in the mid/long term. Earnings results will be due at some point in October, however, PayPal has yet to confirm what date this will be.