Shares of PayPal Holdings, Inc. (NASDAQ:PYPL) may be on the verge of a breakout, as they’re testing the resistance at the $275 level.
When the stock reached this level in April, it ran into a wall of sellers. They put a top on it and the rally ended and a downtrend followed.
Now, shares have reached this important level once again.
See Also: PayPal’s Stock Battles Resistance: What’s Next?
If they can trade above it, it will mean that the sellers who created the resistance are gone. With this large amount of supply off of the market, buyers will need to pay higher prices. This could force shares into a rally.
