It might go further down to support from almost exactly one year ago. It goes down first as the EPS missed expectations by $0.01 and the earnings outlook for the coming period worse than expected by analysts. A rebound is probable to happen since a selloff like this is often matched with a rebound and PayPal is also just trying to lower their P/E ratio as some...
Fundamentally the company is just not performing really well, especially since a limited outlook on user growth has been given. Most important was that the base of users would increase in the low double-digit percentages for the rest of the year. Problem overall is that no hard and fast guidance was given during the earnings call.
Technically however, we seem to...
Despite the fact it's not overbought and the MACD indicates a bullish signal, I think we have to close the gap before we can make some real jumps and reach for a new all time high. The point where it would close the gap is also a fibonacci retracement which makes sense.
It has been a nice couple of bullish days but rather soon than later the bears will get the upper hand again. A retrace back to the 0.5 fibanacci line is very likely when looking at the pattern since the 'bottom' was hit.