PayPal: Another Stock Trading Platform?

PayPal: Another Stock Trading Platform?

2021-09-06 • Updated

About PayPal

PayPal is an electronic commerce company that facilitates payments between parties through online transfers. PayPal allows customers to establish an account on its platform, which is connected to a user's credit card or checking account.

What happened?

PayPal management discusses an opportunity of offering securities brokerage services. The recent report indicates that the company is engaged in studying that possibility, already have set up a division called Invest at PayPal.

A major factor probably spurring PayPal's interest in this market is a boom in retail investing, with estimates indicating that more than 10 million new investors have entered the market during the first half of 2021, approximately the same number recorded in all of 2020.

Also, PayPal announced that the residents of the United Kingdom will be able to buy and hold cryptocurrencies through the PayPal website and app. The global payments provider announced Sunday that U.K. customers will soon have access to Bitcoin (BTC), Ether (ETH), Litecoin (LTC), and Bitcoin Cash (BCH) through PayPal’s website and mobile app. The announcement marks the first expansion of PayPal’s cryptocurrency services beyond the United States — a service that first launched in November of last year.

Technical analyses

4H Chart

PYPLDaily.png

PayPal looks bullish in the middle-term period. If the price slides down, the best buy option will be at $275. Otherwise, a long position might be opened after the $308 breakout.

The main resistance for Paypal stock is the dotted line, which connects previous highs (the stock is going to reach it at approximately $330). As soon as this line gets broken through PayPal will head at $370.

PayPal has a strong support level at $275. If the price breaks this level and the 200-day moving average it will drop to the next support level at $235.

TRADE NOW

Similar

Time to Short US Economy
Time to Short US Economy

Why? Despite the fact that analysts and experts have been predicting the US stock market crash during pash year S&P500 doubled since March 2020 crush and NASDAQ is also gaining permanently…

Latest news

Is JPY Ready to Reclaim All-Year High?
Is JPY Ready to Reclaim All-Year High?

Between October 2022, and January 2023, the Japanese Yen outperformed several other currency pairs, resulting in over a thousand pips move on pairs like EURJPY, GBPJPY, and 2000-plus...

How Will Euro Move After the ECB
How Will Euro Move After the ECB

The European Central Bank (ECB) raised its interest rates by 0.5% to 3%, as planned, to combat inflation, despite some investors'...

Key Moment for the Oil Market
Key Moment for the Oil Market

Oil prices fell to a three-month low following the release of US inflation data which was in line with expectations. The annual inflation rate of 6%...

Deposit with your local payment systems

Feel the Team Spirit

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera