Solid News

eBay Inc., Technical Analysis

2/16/2023 10:15 AM

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

On the daily chart, the price is growing as part of the global head and shoulders pattern, having reached the basic Fibonacci 38.2% correction at 52.30 yesterday.

On the four-hour chart, it can be seen that after the consolidation of the quotes above the 38.2% basic correction level at 52.30, the upward trend will continue, and the next target will be the 50.0% Fibonacci intermediate correction level at 57.30. Otherwise, a local decline is possible and reaching the initial correction level of 23.6% Fibonacci around 46.00

Technical indicators keep a buy signal: fast EMAs on the Alligator indicator are above the signal line, despite the corrective narrowing of the range, and the AO histogram forms corrective bars in the buying zone.

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