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Thursday, April 7, 2016

PayPal Poised to Journey Further Upwards

 PayPal shares (NASDAQ:PYPL) are poised to trend upwards as revealed in the daily chart. The upward trend would continue for some months.

In February 2016, price broke upwards and closed above the upper Trendline. Since then, the price has not returned into the Trendlines. The current price action shows that the bulls are determined to continue pushing the price upwards. This is also supported by the RSI period 14, which is above the level 50.

PayPal would easily attain the distribution territories at 42.00, 43.00 and 44.00 within the next several months.

This forecast is ended by the quote below:

“We plan out what we are going to do before the market actually does it.” – Sam Evans

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

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