Back on May 7th I wrote, "With PYPL testing the rising 200-day moving average line last week, a push up soon to attempt to make new highs is in order." PYPL survived its test of the 200-day moving average line and is now above the rising 50-day line. What else is interesting?
In this daily bar chart of PYPL, below, we can see that the daily On-Balance-Volume (OBV) line is just about at a new high for the move up. The OBV line can lead and make breakouts before prices break out. The Moving Average Convergence Divergence (MACD) oscillator is crossing the zero line for an outright go long signal.
In this weekly bar chart of PYPL, below, we can see that prices are above the rising 40-week moving average line. The weekly OBV line is in a decline the past six months unlike the daily line. The weekly MACD oscillator is narrowing towards a possible bullish crossover in the weeks ahead.
In this Point and Figure chart of PYPL, below, we can see an upside price target of $101. A break out over $87 is needed to clear the way.
Bottom line: PYPL could be ready to break out over the January highs but I would not be surprised to see further sideways price action before we overcome the $87 level. When there is a breakout the $100 area will be the price target.