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May 10 Chart of the Day - PayPal

PayPal (PYPL) bears have been in the driver's seat since its lofty $310 all time high back in July 2021.

Since then price has fallen through each possible support level without any sustainable push by PayPal bulls.  

Price is quickly approaching yet another potential support level around the $60-63 level.  Will this be the "dead cat bounce" traders are hoping for or will price continue its decent towards even lower technical targets of $55 and even below?

Keep in mind that the $30 IPO price could act like a magnet calling its name...

Take a look at the chart and make your determination. 

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PayPal PYPL Chart of the Day


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