Bullish pressure continues to build for $PYPL....
Many online continue to air their frustration with PayPal and they are right to do so, the stock has done nothing in the past 12 months, and when analysing the stock on a multi year basis the story doesn't get much better.
That being said, the stock is clearly trading in a bullish wedge pattern and looks for a potential breakout to $76 a share in the coming months. To bail on the stock here would be suicidal as we are only 78 days from a breakout which takes us to roughly the 30th of August.
If the stocks fundamental's were weakening behind the scenes then that would be a different story however for Paypal the opposite is happening. CEO Alex has been on fire since taking charge 8 months ago and I think it will only be a matter of time until institutions throw in the towel and continue to add Paypal to their core holdings again.
That being said, the stock is clearly trading in a bullish wedge pattern and looks for a potential breakout to $76 a share in the coming months. To bail on the stock here would be suicidal as we are only 78 days from a breakout which takes us to roughly the 30th of August.
If the stocks fundamental's were weakening behind the scenes then that would be a different story however for Paypal the opposite is happening. CEO Alex has been on fire since taking charge 8 months ago and I think it will only be a matter of time until institutions throw in the towel and continue to add Paypal to their core holdings again.