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Benzinga
Benzinga
Business
Melanie Schaffer

Why PayPal Looks Set To Explode Higher (And How To Trade This Key Pattern)

PayPal Nasdaq

PayPal Holdings, Inc (NASDAQ:PYPL) was trading down about 3% on Friday as the stock continued to trade sideways after shooting up about 26% between March 14 and March 18.

The rise paired with the sideways consolidation has settled PayPal into a bullish flag pattern on the daily chart. The bull flag pattern is created with a sharp rise higher forming the pole, which is then followed by a consolidation pattern that brings the stock lower between a channel with parallel lines.

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