Well SupportedThe attempt to fall below the MA failed. Thus the current level has been confirmed and an other rise is possible from here.
EBAY trade ideas
Signs of WeaknessHi guys. Here's another idea for the brave hearts. Humbly posted for public viewing and judgement. Have a nice day.
EBAY - Stochastic divergence on trend line supportEBAY has stochastic divergence on trend line support.
Look for it to make a move back into the rising channel.
Buy: 35.21 - 35.45
Target: 35.99 - 37.24 (2.22% - 5.77%)
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Long Ebay @ WK Demand AreaPrice on EBAY has retraced to WK D area, 3M, MN and WK TL are all up so long is valid. Targeting 41-42.
$EBAY Long PossibilityDemand Zone
Gap Down potential filling
Stop below this box
Target 7-8% gain
Risk 2.5%
Ebay Long - Technicals & Valuation (2-6 weeks)Technicals and valuation support a bullish rebound. Supports at 35 from the channel it has been trading in since June. PE of 5.2 is cheap in this market where the S&P trades at a PE of 25. Excellent margins (80%) support their profitability. Even though Amazon dominates this space, there should be enough room in ecommerce for Ebay to continue to grow.
Ebay Gap FillEbay should be able to rally into the gap fill for a small gain.
Price is rallying from a demand zone currently.
Short term buying opportunity towards Black Friday? EBAY is testing support as we approach Black Friday and Cyber Monday.
The shopping spree expected can boost EBAY following its recent decline and send it back towards the bottom of the rising triangle, to test it as resistance.
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EBAY Long 2-6 Weeks Technicals and valuation support a bullish rebound. Supports at 35 from the channel it has been trading in since June. PE of 5.2 is a steal in this market where the S&P trades at a PE of 25. Excellent margins support their profitability. There should be enough space in e-commerce for both Ebay and Amazon NASDAQ:AMZN allowing both to continue to grow.
EBAYOur preference: bullish as long as 33.2 is support with goal 36.6.
Alternative Scenario: The 33.2 will be depressed, triggering a return to 32.2 and then 31.6.
Comment: The RSI is greater than 50. The MACD is positive and below its signal line. A correction could occur. Additionally, prices are below their moving average 20 (34.7285) but above their moving average 50 (34.0411).
