EBAY INC.: WOLFE RESEARCH ANALYSTS HAVE MAINTAINED THE RATING OF THE EMITTER'S SHARES AT THE "PEER-PERFORM" LEVEL
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 55.30 |
| Take Profit | 58.90 |
| Stop Loss | 53.40 |
| Key Levels | 49.70, 53.50, 55.30, 58.90 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 53.50 |
| Take Profit | 49.70 |
| Stop Loss | 55.00 |
| Key Levels | 49.70, 53.50, 55.30, 58.90 |
Current trend
Shares of eBay Inc., an American online retailing company, are adjusting at 54.00.
Yesterday, eBay Inc. announced the launch of a new Business Cash Advance seller financing option in collaboration with Liberis with an expected working capital of 1.0 million dollars. The program will allow one to make transactions faster due to the accelerated processing of online applications.
Barclays Bank experts expect eBay Inc. sales to grow and revenue figures to improve in the current quarter against the background of revenue from the sale of the Adevinta marketplace being recorded in the report. Wolfe Research analysts maintained the rating of the emitter's shares at the "Peer-perform" level and set a target price in the range of 44.0–64.0 dollars per share. According to experts, the company will be able to only slightly exceed last year's revenue figure of 2.5 billion dollars.
The consensus forecast assumes that the financial report, which the company will publish on August 7, will reflect revenue of 2.53 billion dollars, down from 2.56 billion dollars in the previous quarter. Earnings per share (EPS) may amount to 1.13 dollars, exceeding the figure of the same period a year earlier at 1.03 dollars.
Support and resistance
On the D1 chart, the asset is correcting, approaching the resistance line of the ascending channel with the boundaries of 56.00–50.00.
Technical indicators reversed and issued a new buy signal: the range of EMAs fluctuations on the Alligator indicator began to expand in the direction of growth, and the AO histogram forms new correction bars, being slightly above the transition level.
Support levels: 53.50, 49.70.
Resistance levels: 55.30, 58.90.
Trading tips
If the asset continues to grow and the price consolidates above the maximum of 55.30, one may open long positions with the target of 58.90 and stop-loss of 53.40. Implementation period: 7 days and more.
In the event of a reversal and continued decline of the asset, as well as price consolidation below the support level of 53.50, one can open short positions with the target of 49.70 and stop--loss of 55.00.
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