PAYPAL HOLDINGS INC.: SEC ATTENTION TO STABLECOIN PYUSD NEGATIVELY AFFECTS STOCK PERFORMANCE
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL STOP |
| Entry Point | 52.25 |
| Take Profit | 46.00 |
| Stop Loss | 55.00 |
| Key Levels | 46.00, 52.30, 56.50, 62.30 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 56.55 |
| Take Profit | 62.30 |
| Stop Loss | 54.00 |
| Key Levels | 46.00, 52.30, 56.50, 62.30 |
Current trend
Shares of PayPal Holdings Inc., an American debit payment system, are correcting at 54.62.
Yesterday, the company announced a subpoena from the US Securities and Exchange Commission (SEC) to review the case regarding PayPal’s stablecoin USD or PYUSD. Recently, the department has been carefully studying every case concerning digital assets and has asked the corporation’s management for documents confirming the legality of using this token.
The third quarter financial report showed revenue of 7.4B dollars, up 9.0% from the prior year. Transaction revenue rose 7.0% to 6.7B dollars, driven largely by payments through Braintree and PayPal checkouts. The indicator for other value-added services increased by 25.0% to 764.0M dollars, in the United States by 7.0%, and international profit by 10.0%. Earnings per share were recorded at 1.3 dollars, which exceeded both the 1.23 dollars expected and 1.16 dollars in the previous quarter. The company ended an additional 1.4B dollars share repurchase in the third quarter and announced a new 5.0B dollars full-year repurchase program.
Support and resistance
On the daily chart, the trading instrument continues its corrective trend, holding within the global downward channel with dynamic boundaries of 55.00–42.00.
Technical indicators maintain a sell signal, reflecting a long downward trend: the EMA fluctuation range of the Alligator indicator is expanding, and the AO histogram is forming corrective bars in the sale zone.
Resistance levels: 56.50, 62.30.
Support levels: 52.30, 46.00.
Trading tips
Short positions may be opened after the price declines and consolidates below 52.30 with the target at 46.00 and stop loss 55.00. Implementation period: 7 days or more.
Long positions may be opened after the price rises and consolidates above 56.50 with the target at 62.30. Stop loss – 54.00.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.