andrew.berg
Short

EBAY heading into major support

NASDAQ:EBAY   EBAY INC
EBAY             is on my short list. As it trades below all key moving averages including the most important one 200 EMA , means that bears in control despite storng market and technology sector as well. Earlier it failed to hold above $58 (breakout point) and definitely it is not a good sign for buyers.
Ebay             gapped down on earnings on 30th of April             with pivot resistance at $52.75. bounced from major support at $50 which also acts like psychological level, but this bounce was really weak.
There are entries inside that range but for more confidence we need break down of $50 then I expect to see some follow through .
Next reasonable support is at $46 which could be my first target.
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