$PYPL #USA #Paypal #NASDAQ #Stocks #Markets #Cryptocurrency

PayPal
Price: $169.81
Recommendation: Buy

Company News

PayPal is developing its own cryptocurrency capabilities with a view to achieving greater financial inclusion, the company said in a letter to the european Commission.

The FinTech said it “is continuously monitoring and evaluating global developments in the crypto and blockchain/distributed ledger space” and has taken “unilateral and tangible steps to further develop its capabilities in this area”.

The letter was in response to the commission’s appeal for public consultation on an EU framework for cryptocurrency asset markets.

“Of particular interest for United States is how this technology and crypto-assets may be utilized to attain greater financial inclusion and help cut back some of the pain points that exist today in financial services,” PayPal said.

Speculation regarding PayPal’s foray into cryptocurrencies gained pace last month after the FinTech listed a job opening for “technical lead – crypto engineer” on LinkedIn and its own website.

News website CoinDesk later reported that Paypal planned to introduce a new service that will enable its 305 million users to directly sell and purchase cryptocurrencies through its platform.

PayPal told the commission that thoughtful regulation that fosters innovation while promoting clarity could facilitate the cryptocurrency industry grow and thrive.

“We would be supportive of a harmonised approach across EU markets on authorisation requirements … the regulatory framework ought to allow for innovative products and services to be brought to market without undue regulatory burden,” the company said.

Paypal has a licence to provide banking and payments services in Luxembourg, allowing it to serve customers and businesses in 31 European jurisdictions, representing about 95 million merchants and consumers.

Last year, the FinTech signed a non-binding agreement to support Facebook’s cryptocurrency project Libra, however later backed out when regulatory pressure on the project increased.

The company told the commission that its intention in joining hands with Facebook was to learn “more about the proposed use of blockchain technologies to provide financial services to unbanked populations across the globe”.

“Without questioning the value of the project, [PayPal] took the decision not to participate in the Libra Association and to continue to concentrate on advancing our existing mission and business priorities to democratise access to financial services,” the company said.

Customers can use PayPal services as a method to deposit and withdraw funds from crypto exchanges but the company doesn’t directly sell digital currencies.

It enables the receipt of funds in more than 100 currencies and withdrawals in 56 currencies.

Business Summary

PayPal Holdings, Inc. is a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants.

The Company’s combined payment solutions, including its PayPal, PayPal Credit, Braintree, Venmo, Xoom and Paydiant products, compose its Payments Platform.

It operates a two-sided global technology platform that links its customers, both merchants and consumers, around the globe to facilitate the processing of payment transactions, allowing it to connect merchants and consumers.

It allows its customers to use their account for both purchase and paying for goods, as well as to transfer and withdraw funds.

It enables consumers to exchange funds with merchants using funding sources, which include bank account, PayPal account balance, PayPal Credit account, credit and debit card or other stored value products.

It offers consumers person-to-person payment solutions through its PayPal Website and mobile application, Venmo and Xoom.

Price Performance

Relative Valuation

Technical Indicators

Overall, the bias in prices is: Upwards.

Note: this chart shows extraordinary price action to the upside.

The projected upper bound is: 182.66.

The projected lower bound is: 158.73.

The projected closing price is: 170.70.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 2 white candles and 8 black candles for a net of 6 black candles. During the past 50 bars, there have been 28 white candles and 22 black candles for a net of 6 white candles.

A doji star occurred (where a doji gaps above or below the previous candle). This often signals a reversal with confirmation occurring on the next bar.

A long lower shadow occurred. This is typically a bullish signal (particularly when it occurs near a low price level, at a support level, or when the security is oversold).

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 36.8284. This is not an overbought or oversold reading. The last signal was a sell 4 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 51.73. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 4 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -97. This is not a topping or bottoming area. The last signal was a sell 4 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 3 period(s) ago.

Rex Takasugi – TD Profile

PAYPAL HOLDI closed down -2.250 at 169.810. Volume was 31% below average (neutral) and Bollinger Bands were 39% narrower than normal.

Open     High      Low       Close        Volume
169.900  171.340   166.500   169.810      6,630,594
Technical Outlook
Short Term:        Neutral
Intermediate Term: Bullish
Long Term:         Bullish
Moving Averages: 10-period      50-period        200-period
Close:           175.96         159.72           120.79
Volatility:      33             51               62
Volume:          7,512,756      8,542,567        8,368,510

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

PAYPAL HOLDI is currently 40.6% above its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods.

Our volume indicators reflect volume flowing into and out of PYPL.O at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on PYPL.O and have had this outlook for the last 67 periods. our momentum oscillator has set a new 14-period low while the security price has not. This is a bearish divergence.

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