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PayPal reported third quarter results as stock falls 3.7%
PayPal reported its third quarter results, with the company highlighting strong performance in key areas and ongoing stability in branded checkout. The stock is down 3.7% on the day at $54.87.
PYPL price prediction
Current price:
$59.27
0.9700
1.66%
Closed
11/13
Daily range
58.53
59.45
59.45
Weekly range
58.28
60.64
60.64
Loading...
Highlights
- PayPal reported strong results in its main growth areas and continued stable performance in branded checkout for the third quarter.
- PayPal stock is down 3.7% on the day at $54.87 with a market value near $47.86 billion.
- Barclays rates the stock equal-weight with a $56 target, and 29 of 170 analysts rate it a buy.
PayPal reported its third quarter results. The company said it achieved strong performance across its main growth areas and maintained stability in branded checkout. PayPal is deepening engagement on Venmo and diversifying into financial services, advancing its strategy in line with recent analyst scrutiny over competition, according to Investing.com.
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Mixed technical picture as shares test resistance and MA alignments diverge
Price is sitting right at resistance from the Ichimoku Kijun at $54.89. Shares of PayPal are trading below the MA-20 and MA-50 but remain above the MA-200, which points to a mixed daily structure. Stoch RSI is in oversold territory, a stretched reading that limits room for further downside.
Odds tilt downside as traders watch $54.89 for direction
To see if the market is embracing the latest development, traders should watch for a close above $54.89. Earlier in the session, shares lost the MA-20 at $55.46 after closing above it in the previous period. The downside probability is 55% and the upside probability is 45% for the coming trading week, with an expected range between $53.32 and $56.41. Even so, this follows a sustained move lower with a firm trend over the past week. A close above resistance would show buyers are willing to follow through, while a drop below $54.49 would show the move is being faded. On the weekly chart the longer-term picture stays constructive.
In a recent review, analysts highlighted PayPal's near-term bearish momentum and cautioned that technical signals pointed to persistent selling pressure ahead of its earnings release. With the latest results now out and price action clustered near key resistance, traders should watch for a decisive move above $54.89 or below $54.49 to gauge the market's next direction.
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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