PayPal tries to recoup some losses - Analysis - 29-04-2022

PayPal Holdings' stock rose 11.48% in the last session while recouping earlier losses, and venting off oversold saturation from the RSI, settling at 92.09, with trading volumes surpassing 42.8 million shares, amid the dominance of the main downward trend in the short term, with negative pressure from the 50-day SMA.

Financial gains keep expanding, with the NYSE Financial Index up 1.9% so far.

The gains came after reporting an increase of 7.5% in earnings in the first quarter, hitting $6.48 billion and beating estimates.

Therefore we expect the stock to return lower, targeting the support of 73.00, provided it settles below 92.25.

Expected trend for today: Bearish