EBAY is on my short list. As it trades below all key moving averages including the most important one 200 EMA, means that bears in control despite storng market and technology sector as well. Earlier it failed to hold above $58 (breakout point) and definitely it is not a good sign for buyers.
Ebay gapped down on earnings on 30th of April with pivot resistance at $52.75. bounced from major support at $50 which also acts like psychological level, but this bounce was really weak.
There are entries inside that range but for more confidence we need break down of $50 then I expect to see some follow through .
Next reasonable support is at $46 which could be my first target.
Ebay gapped down on earnings on 30th of April with pivot resistance at $52.75. bounced from major support at $50 which also acts like psychological level, but this bounce was really weak.
There are entries inside that range but for more confidence we need break down of $50 then I expect to see some follow through .
Next reasonable support is at $46 which could be my first target.
