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eBay Inc., Technical Analysis

8/15/2022 12:01 PM

The shares of eBay Inc., an American online retailer, are correcting around 49.00.

On the daily chart, the quotes have left the narrow downwards channel with dynamic boundaries of 40.00–46.00, having broken the resistance line, and are trying to consolidate in the new trend, having almost reached the initial correction level of 23.6% Fibonacci.

On a four-hour chart, in case of consolidation above the initial correction of 23.6% around 50.50, the scenario of a full-fledged upward movement with a local target around ​​the basic correction level of 38.2% Fibonacci around 56.40 has a high potential for implementation.

Technical indicators have reversed and are holding a stable buy signal: fast EMAs on the Alligator indicator are above the signal line, and the AO oscillator histogram forms rising bars above the transition level.

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