Solid News

eBay Inc., Technical Analysis

10/31/2022 10:28 AM

Shares of eBay Inc., an American online retailer, are correcting around 40.00.

The daily chart shows that the trading instrument is slowly declining within a wide downward channel with dynamic boundaries of 44.00–34.00. However, after the formation of the annual minimum at 36.00, clear signs of a reversal appeared.

On the four-hour chart, an upward correction is developing within the local Head and shoulders pattern, the Neckline of which coincides with the initial correction level of 23.6% Fibonacci at 39.40 and has already been broken. If the current trend continues, the growth of the issuer's quotes will continue to a complete correction of 61.8% by Fibonacci around 45.00.

Technical indicators have reversed and are holding a local buy signal: fast EMAs on the Alligator indicator are above the signal line, and the AO oscillator histogram is forming rising bars in the buying zone.

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