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- 1 Paypal stock (NASDAQ: PYPL) is in recovery mode and gained 11.34% in the previous month.
- 2 PYPL stock price holds the 50-day EMA and is attempting to break out of the 200-day EMA.
- 3 Paypal Holdings scheduled the next quarterly earnings on August 2, 2023.
Paypal stock price (NASDAQ: PYPL) gained 11.34% in the previous month and showed signs of a bullish trend reversal. PYPL stock is in recovery mode and rising upward by forming higher highs.
Paypal stock price succeeded to climb above the 50-day EMA showcase the short-term trend has reversed in favor.
However, the buyers are attempting to break out of the 200-day EMA. So, if they succeed then the positional trend will also reverse in the upward direction.
Paypal Holdings stock recovered 28% approx from the 52-week high and created positive hope for long-term investors. The buying volume is also on the rise showing some genuine buyers might have taken a long position and are expecting performance.
Paypal Holdings Inc. is expected to release quarterly earnings on August 2, 2023. Market analysts estimate an EPS of 1.154 and revenue of $7.274 Billion. If the company succeeds to beat the estimates, the probability of the 200 EMA breakout will substantially increase.
The Paypal stock price closed the previous session at $75.82 with an intraday rise of 2.49%. The market capitalization stands at $84.59 Billion.
Will Paypal Stock continue the recovery after earnings?
Paypal stock price (NASDAQ: PYPL) showed a decent recovery from the 52-week low. In the mid of May, PYPL stock took support near $59.00 and some responsive buyers came forward to push the price higher.
Paypal share prices break out from the $70.00 hurdle which further triggers the rally. However, the next phase of the rally will begin after the breakout of the $80.00 hurdle.
Till Paypal stock sustains above the $65.00 support, the short-term trend is expected to remain in bulls’ grip. The technical analysis suggests that buyers are active in Paypal stock and recovery is likely to continue after earnings.
PYPL Stock Price Analysis on Weekly Time Frame
PYPL stock is also turning bullish on the weekly time frame which shows that the buyers are returning back to track. The next directions will be visible after the release of quarterly earnings.
The MACD sustains above the zero line and the curve is sloping upward indicating bullish momentum might continue. The RSI at 67 sloped upward denotes the strength of bulls and more room for upside is open.
Conclusion
Paypal stock price (NASDAQ: PYPL) is recovering and buyers seem to be returning back to track. PYPL stock is attempting to break the 200-day EMA but the probability will increase after positive quarterly earnings.
Technical levels
- Resistance levels: $80.00 and $88.00
- Support levels: $65.00 and $58.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
