New Buy signal on PayPal, 2nd of 6 fresh US Longs
PayPal +1.9%: the old sell signal gives way to a new Buy signal
New Buy signal on PayPal, 2nd of 6 fresh US Longs
Our view last week
Week 8 of a sell signal on PayPal, and the week just closed gained 2.7% with buying volume at 99%. The rebound has now run for three straight weeks: the MACD histogram climbed back to 0.59 and the CMF stays negative but has nearly halved since mid-June. The bearish front isn't closed out, but it keeps losing ground week after week.
This week's summary
PayPal shares close the week up 1.9%, rebounding off a clean double bottom in the 41 area with 81% of daily volume on the buy side. It's the natural evolution of the old sell signal, already faded for weeks: a new Buy signal has fired, ranking 2nd among the 6 fresh US Longs in our weekly technical analysis. Signal strength sits at 65 out of 100.
IQS Phase
43
ordinary
Signal Strength
65
medium
Sizing
STANDARD
Ranking
#2 / 6
New us stocks
Trade P&L %
+0.00%
from signal to today
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