EBAY unable to break through key resistance level


eBay Inc. (EBAY) Technical Analysis Report for May 17, 2018 [1 min read]
Highlights
EBAY unable to break through key resistance level
EBAY fails to close above 200-day moving average
EBAY closes higher for the 2nd day in a row
EBAY rises to highest close since May 10th
EBAY closes within previous day's range after lackluster session
TQ Sentiment
Report Sentiment: 28% Bearish
Technical Forecast:
Overview

Moving higher for the 2nd day in a row, EBAY ended Thursday at 38.40 gaining $0.05 (0.13%) on low volume. Today's closing price of 38.40 marks the highest close since May 10th. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for EBAY
Volatility

Thursday's trading range was $0.61 (1.6%), that's below last trading month's daily average range of $0.79. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average.

Support/Resistance

Unable to break through the key technical resistance level at 38.82, the stock closed below it after spiking as high as 38.84 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward. After spiking up to 38.84 during the day, eBay Inc. found resistance at the 200-day moving average at 38.68.

Trend

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

Order Flow

Selling could accelerate should prices move below the close-by swing low at 37.69 where further sell stops might get activated. With prices trading close to this year's low at 36.81, downside momentum could speed up should the share break out to new lows for the year.

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 high of period TQ Pro Members Only
Bullish Break through SMA 20 TQ Pro Members Only
Hanging Man TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
More market conditions identified for TQ Pro members...
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