Overall, eBay is in an uptrend. Price recently tapped resistance at $38.60 and has moved back to weekly support, albeit pretty hard. I’m confident support will hold based on eBays current trend as well as the bullish sentiment of the overall market...tight stops, please
Ebay was having a dreadful time until it was announced that activist investors had stepped in. It is thought there is much value to unlocked in the stock but we just cant see it. It is in the same marketplace as AMZN, whom can outspend EBAY at any moment the feel like EBAY is taking any market share.
I'm looking to go long on EBAY on the hourly with the next 50 MA test
Solid uptrend going with previous test of bounce and rally
Looking to enter with 1 stop loss of 1 ATR
target price at 35$
will probably take another week or 2 to see if this trade can unfold
Conversion over base
Candle closed above cloud
Lagging span closed above cloud
Trend continuation signals
Higher highs, higher low
green previous support on daily
Yellow strong resistance on the daily (there's a couple of weaker resistance lines on the daily on the way up)
Bigger picture suggests we are close to significant demand. As we move to the lower time frame we can see supply above. Looking to use the supply to take us down to demand to ultimately get long. For now we will focus on this intra-day level. Look forward to another post of this chart soon.