Long Position on PYPL @ $85.00 on 12/7/2018 (Momentum)

double bottom formation on $PYPLPayPal Holdings, Inc. (PYPL) is a technology platform company.

The platform enables digital and mobile payments on behalf of consumers and merchants around the world. The Company focuses on its consumers, merchants, friends and family to access and move their money through its platform using various devices, such as mobile, tablets, personal computers and wearables.

It provides businesses of various sizes to accept payments from merchant Websites, mobile devices and applications, and at offline retail locations through a range of payment solutions across its Payments Platform, including PayPal, PayPal Credit, Venmo and Braintree products.

The Company enables global commerce by providing payment solutions for approximately 162 million active customer accounts in over 200 markets. It enables the users to create an active customer account, which is a registered account that sends or receives at least one payment or payment reversal through its payments platform, excluding transactions processed through its gateway products, in the past 12 months.

PayPal gateway products include Payflow Payments and Braintree products. The Company offers its customers to use their account to both purchase and be paid for goods, and to transfer and withdraw funds.

Shares have formed  a bullish "double bottom" formation and are expected to move higher from this formation.  Note the 50-day moving average shown in brown.

 

52-Weeks Trading Range: $70.22 - $93.70

Entry Point: $85.00

Stop Loss: $80.75

Target Price: $93.50

Updates

1/25/2019 3:03:47 PM

PYPL closed at $94.20

Position closed on 1/25/2019 at price of $94.20 with a 10.82% gain in 49 days.

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