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eBay Inc., Murrey Analysis

12/9/2022 2:36 PM

Shares of eBay Inc., an American online retailer, have been gaining momentum since mid-October but after hitting a pivot at 46.88 ([6/8]), they resumed their decline in a long-term downtrend. Currently, the price is near the central mark of the Murrey trading range 43.75 ([4/8]), and the further direction of movement will be determined by the exit from the central channel 45.31–42.19 ([5/8]–[3/8]): a breakout of its upper border will cause the resumption of positive dynamics to 46.88 ([6/8]), 48.44 ([7/8]), 50.00 ([8/8]), and the consolidation below its lower border will lead to a decrease to 40.62 ([2/8] ) and 37.50 ([0/8]).

Technical indicators do not give a single signal: Bollinger bands are directed upwards, Stochastic is reversing upwards near the oversold zone, and the MACD histogram is decreasing in the positive zone.

Resistance levels: 45.31, 46.88, 48.44, 50.00. | Support levels: 42.19, 40.62, 37.50.

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