EBAY finds buyers around 39.81 for the third day in a row
eBay Inc. (EBAY) Technical Analysis Report for Apr 16, 2018
EBAY ended Monday at 40.19 gaining $0.29 (0.73%) on low volume. Trading $0.44 higher after the open, the stock was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Monday's trading range was $0.85 (2.11%), that's slightly below last trading month's daily average range of $0.99. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average. Prices continued to consolidate within a tight trading range between 39.80 and 41.09 which it has been in now for the last three days.
During the whole day, prices traded within the previous day's range, unable to trade above the prior day's high or below the previous day's low forming an Inside Bar.
Prices are trading close to a key support level at 39.80. The share found buyers again today around 39.81 for the third trading day in a row after having found demand at 39.80 in the prior session and at 39.95 two days ago. After trading as low as 39.81 during the day, the market found support at the 100-day moving average at 39.94.
EBay Inc. shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.
Buying might accelerate should prices move above the close-by swing high at 41.09 where further buy stops could get triggered. Selling might speed up should prices move below the nearby swing low at 39.80 where further sell stops could get activated.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.
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