PayPal gives in to negative pressures - Analysis - 27-05-2016

PayPal Holdings' stock skidded in the intraday levels, registering a loss of 1.78% in the last session, or 0.69 points, with ongoing negative pressure from the SMA for the last 50 days period, after the pivotal resistance of 39.10 held on, which represents the ratio 23.6% of Fibonacci retracement levels for an ascending wave in the short term (from 30.52 to 41.75). 

Therefore we expect more losses to come for the stock, targeting the support of 37.46, which represents the ratio 38.2% of the same retracement levels.