PayPal After the Bell

$PYPL

I’ve written about PYPL 0.00%↑ quite a bit since it’s a name I’m comfortable trading around given familiarity. The technical analysis ledger on positioning into this is more negative than positive - the stock was bought up through the 200 day but has been sold back down; an intraday move into the August gap range was quickly sold off; and there’s ample overhead supply above. All of these characteristics say nothing about what could happen after the close today. They’re risk management considerations, and to me, they say that if you’re looking at anything on the long side prior to this release, you’re guessing/hoping/praying.

I expect to hear to about cost cutting initiatives, possible workforce reduction, and hopefully plans for monetization around some of their key assets. I’d need a break and hold of this declining 200 day to even entertain a long trade in this name.