PayPal short term trend is strongly bullish. First resistance at $49,50

PayPal short term view is strongly bullish, but quotes are below 14 day moving average. Daily chart shows an increase in volumes compared to the previous day.

PayPal, May 18 stock closing price was slightly higher at $49.11 (+0,12%). Technical analysis applied to the daily chart shows a neutral trend within a very positive short term trend. For today trading session the forecast is for price fluctuations between support and resistance levels. The major oscillators confirm the view, but for now no bullish or bearish signals are triggered.
PayPal short term trend

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Simple Moving Average (SMA)
PayPal quotes are below 14 day moving average (SMA value is 49.24), however the short term trend remains strongly bullish.
Volumes
PayPal daily chart shows an increase in volumes compared to the previous day.


Support and Resistance levels
7, 15 and 30 trading days Performance. Support, Resistance and Pivot Point levels. Last updated closing price: 18/05/2017.

Performance: 7 trading days= -1.37% – 15 trading days= +2.91% – 30 trading days= +14.48%

Resistance levels: R1= 49.50 – R2= 49.88 – R3= 50.57
Pivot Point: 49.19
Support levels: S1= 48.81 – S2= 48.50 – S3= 47.81


Buying opportunity above 49.28, targets minor resistance at 49.88 and perhaps as far as strong resistance at 50.57, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 51.45.

Selling opportunity below 48.92, targets minor support at 48.50 and perhaps as far as strong support at 47.81, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 46.76.

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