September 9 Chart of the Day - PayPal

Precision oriented price action technical analysis by far provides the best edges and most setups for traders and investors across the markets so that's what we use for the basis of our reviews

PayPal (PYPL) is in the headlines today as it added another recognizable partner to its list: Shopify.

PayPal CEO Alex Chriss and his team have been working to generate a turnaround, and they're seeing some progress. Along with innovating new product offerings for merchants, the company has made some significant headway in establishing revenue-generating partnerships with other major companies.

With all this said, we wanted to review their chart from a price action technical analysis perspective.

We have featured over 250 Charts of the Day since May 2023 and teach Price Action Trading for FREE  to traders who join our Highly Rated Trade Room.

Monthly Chart 

On the monthly chart we can see that after setting its $310.16 all time high (ATH) back in 2021 price fell dramatically over the next few years all the way down to the $50 about a year ago.

Since then price has bounced slightly and slowly up to the $70 area.

Weekly Chart

 
On the weekly chart we can see with much more clarity the fall from ATHs, and the  slow bounce back up.  The bulls seemingly have been attempting to make a series of higher highs and higher lows.

Trading around $69.75 earlier today price may be attempting to establish its next higher high but if it does price will need to break out of this channel that's formed.

Only time will tell for sure what price will do next...

We've layered in traditional Fibonacci levels as well as support/resistance and trend to help identify potential price levels of interest and/or future price targets.

Armed with precision oriented charts like these both traders and investors can formulate their respective plans. 

So what's next?