According to various financial media, PayPal may have launched a buyout offer for Pinterest valued at $39 billion, or $70/share.
Unlike previous rumors, this time the market has taken it as “true” and has punished the price. PayPal has gone for the support range between $258 and $251. This reference is key in the short term since its definitive perforation would leave the stock in a relative free fall phase, a scenario prone to develop a first corrective leg in search of the annual lows left last March around the $225 area. On the upside, the bearish gap left at $273.40 remains the reference to beat.
Pro1 PREMIUM Portfolio
Resistances: $273.4, $280, $296.5, $310.
Supports: $251, $240, $235.2, $225, $175.5.
Targets: (Bearish) $251, $240, $225, $190 (Bullish) $290.
Trend structure in PAYPAL:
- Short term: Neutral-bearish.
- Medium term: Neutral.
- Long term: Bullish.
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