EBAY Descending Channel

18 Mar 2022

Price has been in a descending channel for the last several months resulting in a 30% drop from its October highs. RSI has been consistently dismal. failing to pass even 50 so far this year, further confirming a downtrend. The price is currently facing resistance at the upper end of the channel and will likely reject this level and continue downwards. Place stops at $58 (if your stop is actually hit, price may be breaking out and you could look to enter long on a kickback) and take profits at $50 (although there might be more room for drop).