PayPal rallies - Analysis - 04-08-2022
PayPal Holdings' stock (PYPL) rallied after announcing a new CFO, while asserting investor activists from Elliott Management acquired a stake in the company, while surpassing financial results for the second quarter and providing mixed updates for the whole year directives, with the stock surging 9.25%, or 8.29 points, and settling at 97.92, with trading volumes surpassing 53.7 million shares, above 10-day averages of 19.5 million shares.
The stock managed to test the pivotal resistance of 92.25, amid the dominance of the upward correctional wave in the short term, with positive support from the 50-day SMA, coupled with negative signals from the RSI after reaching overbought levels.
Therefore we expect more gains for the stock, targeting the first resistance at 122.90, provided it holds above 92.25.
Expected trend for today: Bullish
Midday update for the NZDUSD 04-08-2022
The NZDUSD pair reached our first target at 0.6320 now, waiting for more rise to breach this level and confirm extending the bullish wave towards 0.6380, reminding you that the continuation of the bullish wave depends on the price stability above 0.6257.
The expected trading range for today is between 0.6250 support and 0.6350 resistance
The expected trend for today: Bullish
Midday update for the AUDUSD 04-08-2022
The AUDUSD pair managed to touch our first waited target at 0.6980 and attempts to breach it, reinforcing the expectations of continuing the bullish wave and head to visit 0.7050 as a next target, to keep our bullish overview conditioned by the price stability above 0.6910.
The expected trading range for today is between 0.6910 support and 0.7020 resistance
The expected trend for today: Bullish
Midday update for Brent oil 04-08-2022
Brent oil price resumes its negative trading calmly to press on 100.00 barrier, waiting for more decline to confirm opening the way to head towards our next target at 95.90, to keep the bearish trend scenario active for today conditioned by the price stability below 102.25.
The expected trading range for today is between 97.50 support and 102.25 resistance.
The expected trend for today: Bearish