PayPal attempts to recover some ground - Analysis - 31-05-2016

PayPal Holdings' stock closed barely higher in the intraday levels, scoring a minute profit of 0.05% in the last session, or 0.02 points, as the stock tries to recover past losses, with ongoing negative pressure from the SMA for the last 50 days period, combined with an influx of negative signals from relative power indicators. 

Therefore we expect the stock to return lower in the coming trading, targeting the support of 37.46, which represents the ratio 38.2% of Fibonacci retracement levels for an ascending wave in the short term (from 30.52 to 41.75).