PayPal Holdings, Inc. PYPL investors didn’t like what they read in the quarterly earnings report. The shares are trading significantly lower Thursday morning.
If the shares fall to around $275, there is a good chance the selloff ends. There will probably be support at this level because it was previously a resistance level.
Many of the investors who sold PYPL at $275 decided they made a mistake after the shares traded at a higher price. Many of these remorseful sellers decide to buy their shares back. But they will only do so if they can get them for the same price they sold at.
As a result, they will be placing their buy orders at $275. If there is a large concentration of these orders, it could cause support to form. This support could put a halt or end to the selloff.
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