EBAY INC.: TECHNICAL ANALYSIS
| Scenario | |
|---|---|
| The time interval | Weekly |
| Recommendation | SELL STOP |
| Entry point | 51.80 |
| Take Profit | 48.50 |
| Stop Loss | 52.50 |
| The most important levels | 48.00, 48.50, 51.50, 51.80, 52.50, 53.60, 55.00, 56.70 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry point | 53.60 |
| Take Profit | 56.70 |
| Stop Loss | 52.50 |
| The most important levels | 48.00, 48.50, 51.50, 51.80, 52.50, 53.60, 55.00, 56.70 |
Shares of eBay Inc., an American online retailer, are correcting around 53.00.
On the daily chart, the price is approaching the support line of the rising channel at 56.00-52.00.
On the 4-hour chart, the local decline is estimated as an attempt by the stock to leave the long-term range, and if it manages to consolidate below 51.50, an exit from the channel is possible upon subsequent reaching of the late April low of 48.00, however, if not, an update to the yearly highs is possible at around 55.00 and moving to the resistance line.
Technical indicators are creating a new sell signal: the quick EMAs on the Alligator indicator have crossed the signal line from top to bottom, and the AO oscillator histogram, located in the sell zone, continues to build bearish bars.
Trading scenarios
It is worth opening short positions after the price fixes below the support level of 51.80 with a target of 48.50. Stop-loss - 52.50. Delivery time: 7 days and more.
It is worth opening long positions after price consolidation above the local resistance level of 53.60 with a target of 56.70 and a stop-loss of 52.50.
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