PayPal Holdings, Inc. (NASDAQ:PYPL) stock was down nearly 3% on Monday, even as investors continued buying large-cap technology stocks. The Nasdaq gained 1.55%, while the S&P 500 rose 0.68%.PayPal’s weakness appeared to reflect company-specific selling rather than a broader market pullback.The stock continues to trade below key long-term moving averages. That has kept the longer-term trend under pressure and encouraged sellers to emerge during short-term rallies.PayPal has also struggled over the past year, with the stock down 41.66% over the past 12 months. That decline has left investors looking for stronger evidence that the company’s turnaround is gaining traction before committing fresh capital.PayPal Technical AnalysisPayPal is trading 4.2% above its 20-day simple moving average of $42.65. However, the stock remains 0.7% below its 50-day SMA of $44.75 and 17.2% below its 200-day SMA of $53.66.The moving averages remain in a bearish alignment, with the 20-day SMA below the 50-day SMA and the 50-day SMA below the 200-day SMA. That setup suggests the longer-term trend remains negative.The relative strength index stands at 53.28, placing momentum in neutral territory. The reading suggests neither buyers nor sellers currently have a decisive advantage.April marked the stock’s recent swing high, while June marked its latest swing low. PayPal remains in the lower half of its 52-week range of $38.46 to $79.50, indicating buyers still need to establish a stronger recovery.Key resistance sits near $46, close to the 100-day moving average. Initial support is around $43, where the 20-day trend line has recently attracted buyers.Earnings And Analyst OutlookThe next major catalyst is PayPal’s estimated earnings report on July 28.Wall Street expects earnings of $1.28 per share, down from $1.40 a year earlier. Revenue is projected to rise to $8.48 billion from $8.29 billion.The stock trades at about 8.5 times earnings, suggesting a lower valuation than many peers.Analysts maintain a consensus Hold rating with an average price forecast of $49.65. Recent analyst actions include: