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Special financing expansion weighs on PayPal stock
PayPal Holdings, Inc. introduced expanded financing options for its credit card customers, with 6 months special financing now available on purchases of $149 or more at all Mastercard acceptance points. Even so, shares are edging lower on the day, trading at $58.52.
PYPL price prediction
Current price:
$58.25
-0.5400
0.92%
Closed
11/03
Daily range
58.12
59.05
59.05
Weekly range
55.52
59.05
59.05
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Highlights
- PayPal has expanded its credit card offering to include 6 months special financing on purchases of $149 or more at all Mastercard acceptance points.
- Despite this enhancement, shares of PayPal are slightly lower intraday, last changing hands at $58.52.
- Shares gapped down at the open but remain in a stretched bullish setup, with the expected five-day trading range at $57.26 to $59.77.
PayPal, through its official account, announced that the PayPal Credit Card is now offering 6 months special financing on purchases of $149 or more. This financing feature now applies at all locations where Mastercard is accepted. The move was communicated directly by the company.
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Bullish chart intact as overbought momentum drives gap lower
Shares of PayPal opened the session with a gap down to $58.82, moving away from the previous close and initiating a sustained move lower with a firm trend. The stock holds above its MA-20, MA-50, and MA-200, which keeps the daily chart in a broadly bullish configuration. However, with RSI at 70.9 reaching overbought territory, there is now limited room for further upside. The nearest support is the weekly low at $57.18, which remains in view as the stock trades within a bullish but stretched setup.
Upside favored as traders await resolution of session gap
Traders should monitor whether the gap down from $59.05 to $58.82 is accepted or rejected in the coming sessions. Over the next five trading days, the upside probability stands at 78% and the downside probability at 22%, with the expected trading range between $57.26 and $59.77. Although the recent move has shown a sustained and firm trend lower, from here these probabilities favor further gains. A close above $59.98 would signal buyers are following through, while a drop below $57.18 would indicate the move is being faded. On the weekly chart the longer-term picture stays mixed.
Previously it was reported that PayPal expanded its credit card financing options by introducing 6 months special financing for qualifying purchases wherever Mastercard is accepted. The current analysis further highlights that, despite this update, traders should monitor the prevailing bullish setup alongside the risk of a reversal if support at $57.18 fails in the coming sessions.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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