PayPal stock (NASDAQ:PYPL) has become essentially bearish, though bulls
are making attempt to push price upwards. That currently seems like an exercise
in futility.
Price dropped below the lower Trendline, and bulls are unable to move it
back above the lower Trendline. At the same time, the RSI period 14 is below
the level 50, with potential to move to lower levels.
The market is very volatile right now, but the possibility of it going
lower is higher than its possibility of going upwards. The outlook on PYPL is
not very bright for this year, and price may test the demand levels at 100.00,
90.00 and 80.00.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Trading realities: Trading realities
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