Look for some profit-taking in the digital wallet stocks.
PayPal Holdings, Inc. PYPL has been trending higher, but that trend is in jeopardy.
When stocks are in uptrends, the bulls are in control. If they're trending lower, the bears are in charge. A reversal day pattern is a graphical illustration on a chart of a change in leadership.
On Wednesday, PayPal formed a reversal day pattern. This could mean a new downtrend is about to form.
See Also: Best Cryptocurrency Wallets
Shift4 Payments, Inc. FOUR broke an uptrend line Wednesday. The bears may be about to drive the stock price lower.
The break of an uptrend line is a different graphical illustration that shows the leadership is changing from the bulls to the bears.
Square, Inc. SQ hit resistance at the $275 level.
Resistance is a large number of sellers trying to sell their stocks at the same price level. There is more than enough supply to satisfy the demand and then some.
After hitting the $275 resistance level in February, shares of Square trended lower. There is a good chance it happens again.
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