If you haven`t shorted the news that EBAY Active buyers declined 13%:
then you should know that looking at the EBAY Inc options chain, i would buy the $39 strike price Puts with
2022-11-11 expiration date for about
$1.53 premium.
If the options turn out to be profitable Before the earnings release, i would sell at least 50%.
Looking forward to read your opinion...
Analysis for EBAY
RSI is steadily increasing with a third bottom point revealed
This RSI bottom point correlates with price bottom point along the strongest trend line
Bullish
Market just finished 1-5 Elliot Wave Theory downwards and started an ABC correction, we are waiting for the last correction wave to complete which we are forecasting to end in around $50 making it a flat ABC correction.
Entry: 50
Invalidation: 48.54
Target: 60.62
The 200MA shows the price rise and decline perfectly, ascends to the curved line and sharply turns around
This has recently occurred and now we are seeing the turn around phase
Placed bars patterns are just speculative price action assumptions
We just finished full Elliot wave with an ABC correction, we bounced off of a strong demand zone, and we should see a retracement to a 50% fib zone.
RSI: RSI touched 30 zone and is heading to cross a signal line, that indicates we are heading for a bullish momentum.
Entry: 54
Target: 65
Invalidation: 49
