After moving within a range for the past 3 months shares of PayPal Holdings Inc. (PYPL) have renewed their uptrend advancing 26.7% since the end of October.
Over the past two weeks the price has surged making multiple new all time highs and currently sits in the 84th spot of the S&P 500 Index Report after advancing 30 spots yesterday.
Looking at the candle stick chart, prior resistance has turned into support around $211 where the breakout and retest occurred earlier this month. Support below $211 can be found with a test of the forming trendline around the $200 round number. Initial resistance based on a Fibonacci extension can be found at $245.
PayPal Holdings Inc. (PYPL) has moved up 85 spots over the past week within the S&P 500 Index Report. The shares have rebounded 190% off their March lows and continued their uptrend this week.
Looking at the 2% Scale on the Point and Figure chart we see the shares have completed a bullish triple top pattern. If the price continues higher, next resistance based on measured moves is $250.61 and above that around the $300 round number. Support can be found at its 3 Box Reversal of $213.89 and if that level does not hold next support can be found down near $182.56.
With a 8 out of 10 SMAX score PYPL is exhibiting near term strength against most asset classes.
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