EBAY finds buyers around 39.81 for the third day in a row


eBay Inc. (EBAY) Technical Analysis Report for Apr 16, 2018 [1 min read]
Highlights
EBAY finds buyers around 39.81 for the third day in a row
EBAY closes below its opening price unable to hold early session gains
EBAY finds support at 100-day moving average
EBAY stuck within tight trading range
EBAY closes within previous day's range
TQ Sentiment
Report Sentiment: 30% Bullish
Technical Forecast:
Overview

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.

Daily chart for EBAY
Volatility

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.

Price Action

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.

Support/Resistance

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.

Trend

EBay Inc. shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.

Order Flow

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.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for eBay Inc.
ConditionForecastDirectionWinAvgWorstBestEvents
Close near low of period TQ Pro Members Only
RSI(14) below 30 TQ Pro Members Only
Black Candle TQ Pro Members Only
Very Strong Down Move TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
More market conditions identified for TQ Pro members...
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