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PayPal shares are defying the general downturn on Wall Street and are rising moderately at the start of December. An important chart mark comes into focus, while the major US indices start December somewhat calmer.
While the Dow Jones and S&P 500 fell slightly, PayPal shares rose by 0.5 percent. The gap to the multi-year low at the end of October is now over 20 percent, and the psychologically significant $60 mark is coming into focus.
Things get interesting from a chart perspective above the $60 mark: the 100-day line is currently at $60.61. A breakout here would be both a technical buy signal and the closing of a price gap that occurred in mid-September.
Continuing the positive momentum and overcoming these chart levels would be crucial for the further rise. However, the next hurdle awaits in the form of the 200-day line in the area of $65.36.
Despite a recovery trend, a clear underperformer
Although PayPal's shares are defying profit-taking on Wall Street today, they are still down around 16 percent since the beginning of the year. In comparison, the S&P 500 is up nearly 19 percent over the same period. This means PayPal is still an underperformer despite the recent recovery.
Der Autor hält unmittelbar Positionen über die in der Publikation angesprochenen nachfolgenden Finanzinstrumente oder hierauf bezogene Derivate, die von der durch die Publikation etwaig resultierenden Kursentwicklung profitieren können: PayPal.