Concerns about the business model of the digital payments industry appear to be subsiding, according to a Reuters article. The risks associated with the entry of giants like Amazon may have been overestimated. The BMO analyst raised the recommendation on PayPal to outperform. The reason would be that after the steep drop in 2021, the stock is now quoting at reasonable multiples that express the true value of the company. This could therefore be an accumulation phase.
Paypal [PYPL.O] closed at $194.9 (+3.4%) and is at $195 (+0.03%) in pre-trading. The scenario seems to be improving significantly for PayPal. In particular, the first resistance level that will tell us about the goodness of the bullish movement is the one in the $200/$204 area. The break in strength of this price range should allow short targets towards $210 and $222. The latter, however, is a very hard obstacle to break. In fact, if Paypal were to break $222, the potential would reopen to return to the 2021 maximum at $209. It’s still early to say, of course. So, let’s go step by step. We also point out a rare but interesting chart pattern on RSI: a bullish swing failure, followed by a divergence on the oscillator with a break of the resistance line (first line in blue on RSI at 38.3) and then a pull back. The pattern suggests a rise but, as always, confirmation on prices is NECESSARY, or the breakout of $200, preferably with strength.
We recommend going LONG on the stock on the break of $200/$204 by buying the Leverage Shares PayPal 3x ETP (ISIN: XS2297550217), with a short-term target towards $210 and later at $222. Alert/stop loss should be above $178 (closing daily).
The information provided by Websim, a division of Intermonte SIM, a company authorised by CONSOB to provide investment services and registered in the Italian SIM under no. 246, are obtained from sources deemed reliable (of which the company is not able to guarantee the absolute completeness and accuracy) and in any case, if there are doubts about their reliability, this will be clearly indicated. The main purpose of the site is to provide a set of updated and accurate information, studies and analyses in compliance with the provisions of the “recommendations” in current legislation and does not represent a “solicitation to invest” pursuant to art. 1, paragraph 1, lett. t) of Legislative Decree 58/1998.
Sandeep joined Leverage Shares in September 2020. He leads research on existing and new product lines, asset classes, and strategies, with special emphasis on analysis of recent events and developments.
Sandeep has longstanding experience with financial markets. Starting with a Chicago-based hedge fund as a financial engineer, his career has spanned a variety of domains and organizations over a course of 8 years – from Barclays Capital’s Prime Services Division to (most recently) Nasdaq’s Index Research Team.
Sandeep holds an M.S. in Finance as well as an MBA from Illinois Institute of Technology Chicago.
Violeta joined Leverage Shares in September 2022. She is responsible for conducting technical analysis, macro and equity research, providing valuable insights to help shape investment strategies for clients.
Prior to joining LS, Violeta worked at several high-profile investment firms in Australia, such as Tollhurst and Morgans Financial where she spent the past 12 years of her career.
Violeta is a certified market technician from the Australian Technical Analysts Association and holds a Post Graduate Diploma of Applied Finance and Investment from Kaplan Professional (FINSIA), Australia, where she was a lecturer for a number of years.
Julian joined Leverage Shares in 2018 as part of the company’s primary expansion in Eastern Europe. He is responsible for web content and raising brand awareness.
Julian has been academically involved with economics, psychology, sociology, European politics & linguistics. He has experience in business development and marketing through business ventures of his own.
For Julian, Leverage Shares is an innovator in the field of finance & fintech, and he always looks forward with excitement to share the next big news with investors in the UK & Europe.
Oktay joined Leverage Shares in late 2019. He is responsible for driving business growth by maintaining key relationships and developing sales activity across English-speaking markets.
He joined Leverage Shares from UniCredit, where he was a corporate relationship manager for multinationals. His previous experience is in corporate finance and fund administration at firms like IBM Bulgaria and DeGiro / FundShare.
Oktay holds a BA in Finance & Accounting and a post-graduate certificate in Entrepreneurship from Babson College. He is also a CFA charterholder.
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