Swing Trade Idea (PYPL) – April 27, 2021
Our bullish trade for Tuesday, April 27th is PayPal Holdings Inc (PYPL). PYPL is part of the Technology Sector (XLK). XLK has experienced a 10.8% gain in the last month and its 1M and 6M trends turned bullish on March 31st
PYPL’s 1M and 6M trend turned bullish earlier this month and has recently pulled back to an area of support and rebounded with strong momentum. With a technical score of 7 (out of 10), PYPL is a strong stock that will likely move higher.
As a stop loss, if PYPL were to trade below $257 for multiple days, this would invalidate our analysis and we would focus on cutting losses on the trade. We also would consider cutting losses on this options trade if the value of the vertical spread moves above $15.00.
