PayPal Holds at $59 Below Rejected $60.50 Bid as July’s 32.5% Surge Loses Momentum
Updated
Updated · The Cryptonomist · Aug 12
PayPal Holds at $59 Below Rejected $60.50 Bid as July’s 32.5% Surge Loses Momentum
1 articles · Updated · The Cryptonomist · Aug 12
Summary
$59.00 was PayPal’s latest close, leaving the stock pinned just under the $59.44 resistance level and the $60 area tied to a rejected $60.50 bid.
Momentum has cooled even as the broader trend stays bullish: the stock remains above its 50-day and 200-day EMAs, but daily RSI sits at 70.58 and the MACD histogram has turned negative at -0.22.
Compressed volatility points to a pending break rather than a steady drift, with hourly ATR down to $0.34 and 15-minute ATR at $0.12 after July’s 32.5% rally.
A daily close above $59.44 would strengthen the case for a push toward $60.50, while a drop below $58.55 would shift focus to $57.40 and potentially the $54.80 lower band.
The stall reflects more than chart resistance: M&A speculation and the board’s rejected offer still anchor trading near $60, leaving the next move vulnerable to headlines.