PayPal Stock (PYPL) Setting Up For New Highs

One of our top technical stock ideas here is PayPal (PYPL).

Paypal is a global leader in the fast growing Financial Technology industry (FinTech) and is in a strong technical uptrend above all key rising moving averages.

Paypal’s stock (PYPL) recently pulled back 8.6% from all-time highs, while holding its rising 20-day moving average, a strong technical signal.

On any pullback $185 is first support, then the 50-day moving average currently at $181.30.

The 50-day moving average is a key intermediate-term trend gauge that I have my eye on.

Thus far, PayPal looks bullish and likely to make new highs in the days ahead.

PayPal (PYPL) Stock Chart

pypl paypal stock bullish forecast new highs investing image chart august 25

Larry is the publisher of the Blue Chip Daily Trend Report.

Twitter:  @LMT978

The author does not have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.

Editor’s note 8/25/20 7:24 pm CST: Correction to final statement to clarify that the author does not have a position in mentioned securities.

Sign up for our FREE newsletter
and receive our best trading ideas and research