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PayPal Daily Technical Analysis | 13 September 2017

2017-09-13 12:22 pm | Resource: Technical Analysis Section | No Views : 276

The stock Paypal is trading in a major bullish direction over the weekly time frame and the slow moving SMA is intersecting with the fast to support the current bullish trend.

PayPal Daily Technical Analysis | 13 September 2017

Note from the chart below that the stock was able to break the 1.618 ratio of the initial wave and completed its high after retesting that level.
MACD is approaching the negative cross at 2.618 and the indicator shows a negative technical divergence between it and the American stock, so we advise buyers to be careful of failure to break this level because the correction will not be like a breeze.
It is expected that if PayPal shares break through $ 62.77, it targets $ 75.3, but a negative behavior at 62.77 could target the 55.40 level.
Support: 55.40-4.80 - 44.43
Resistance: 62.77-65-71.25
Trend: Up

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