EBAY breakout of the symmetrical triangle which was inside of the down channel is bullish. Breakout was on bigger volume and was also breakout through BigRed 200 days MA which is also very bullish, and now is forming high base formation just right after its breakout.
Friday's price action wasn't confirmed with volume as it was below 20 days average.
It is above all major MA which is bullish.
RSI is neutral.
MACD histogram is ticking lower but the MACD line is still above the signal line which is bullish.
Overall: EBAY after such a strong move above the trend line and BigRed EBAY deserves to be on the watchlist. In the case of its breakout of the high base, long trade would be triggered above a small red dotted line or high from 18 Jan. The initial target would be around 50.80 which was the last high. The ideal situation would be for eBay to consolidate on these levels for a few more days on lower volume and then break out strong.
Drop below the trendline and BigRed would cancel the possibility of a long trade.
Friday's price action wasn't confirmed with volume as it was below 20 days average.
It is above all major MA which is bullish.
RSI is neutral.
MACD histogram is ticking lower but the MACD line is still above the signal line which is bullish.
Overall: EBAY after such a strong move above the trend line and BigRed EBAY deserves to be on the watchlist. In the case of its breakout of the high base, long trade would be triggered above a small red dotted line or high from 18 Jan. The initial target would be around 50.80 which was the last high. The ideal situation would be for eBay to consolidate on these levels for a few more days on lower volume and then break out strong.
Drop below the trendline and BigRed would cancel the possibility of a long trade.
Comment:
Didn't enter even though it went up. Low volume, could be fake out!
Comment:
Damn didn't react, to be honest. Nice break out of the high base, hope someone is in!
Consistency is the key of success....