Chart of Day: PayPal (PYPL) – 6/5

Keep an eye on rebounding shares of PayPal (SYM: PYPL).

After slipping to $60.72, the stock is just starting to pivot higher. It’s also just starting to pivot from over-extensions on RSI, MACD and Williams’ %R. From its last traded price of $63.46, we’d like to see it initially retest $67 a share.

pypl

Mizuho analysts also like the stock, noting, “We are encouraged by stabilization in Branded Checkout trends across our analysis of two dozen of PYPL’s largest e-comm partners,” as quoted by Investing.com.

“We view valuation as compelling and see an attractive risk/reward setup, as PYPL trades more than 1 standard deviation below its historical spread vs. peers. As the Fastlane opportunity materializes, we believe PYPL should increasingly trade at a modest premium vs. the legacy payments group,” they added.

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