PayPal(PYPL) is a decent growth stock, but didn’t gain much traction ever since its IPO back in July 2015. It is oscillating/consolidating around the 50 day moving average (DMA) line for a while, but holding above the 200 DMA line though.
Here is a quick look at this stock’s potential buy point using its weekly chart.
#2 The stock cleared the buy point of $41.40 back in October 2016.
#3 But the breakout didn’t last for very long and quickly failed.
#4 After giving almost all the breakout gain, the stock is quietly consolidating for the last two month or so.
#5 The stock may offer a potential buy point around $42.40 in case, it clears this price resistance level in high volume.
The ideal buy point would be $42.40 to $44.52.