Payment platform PayPal Holdings (PYPL) announced its fourth-quarter numbers Thursday evening along with the news that CEO Dan Schulman will retire at the end of 2023. Last week the company sacked about 2,000 employees.
Let's see how the charts look now with all this going on at the San Jose-based company.
In the daily bar chart of PYPL, below, I used a log scale to display the price action. The shares are trading between the 50-day moving average line and the 200-day line.
The On-Balance-Volume (OBV) line is unenthusiastic. The Moving Average Convergence Divergence (MACD) oscillator is only slightly above the zero line.
In the weekly Japanese candlestick chart of PYPL, below, I see a soft-looking picture. Prices have made a major decline from their 2021 zenith. Prices are testing the 40-week moving average line.
The weekly OBV and the MACD are not setting the world on fire, so to speak.
In this daily Point and Figure chart of PYPL, below, I can see a potential downside price target in the $68 area.
In this weekly Point and Figure chart of PYPL, below, a price target in the $42 area is being projected.
Bottom-line strategy: PYPL is still making lower highs on the charts the past 12 months and I cannot rule out the possibility of the stock making a lower low too.
