We covered PYPL on June 15, writing that, "In our February 5 review of PYPL we recommended raising stops to $224 so we are assuming that traders are still long. Add to longs on strength above $280. The $352 area is our first price target now."
Traders should have bought more PYPL last week at $280 or higher so let's check on the charts again.
In the updated daily bar chart of PYPL, below, we can see that the shares are ready to challenge the highs of February. Prices are trading above the rising 50-day moving average line and above the rising 200-day moving average line.
The daily On-Balance-Volume (OBV) line has made new highs this month to confirm the price gains. The Moving Average Convergence Divergence (MACD) oscillator is bullish and rising.