Solid News

eBay Inc. Trades Within a Long-term Downward Channel

11/10/2022 2:28 PM

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

The company released a quarterly report last year, which was taken by the market neutrally: earnings per share amounted to 1.00 dollars, which exceeded the consensus estimate of 0.97 dollars and 0.99 dollars in the previous quarter. Revenue also beat expectations at 2.4B dollars versus the 2.33B dollars forecast but declined 5.0% YoY. Operating cash flow for the quarter was 735.0M dollars, up from 633.0M dollars in the previous quarter. In its forecast for the end of the year, the management of the corporation expects to receive earnings per share in the range of 1.03–1.09 dollars, revenue is expected in the range of 2.42–2.50B dollars, annual earnings per share – in the range of 4.07–4.13 dollars, and revenue – from 9.71B to 9.79B dollars.

The next dividend payment is scheduled for December 16, and investors will receive 0.22 dollars per stock, comparable to a yield of 2.17% per annum.

On the daily chart of the asset, the trading instrument is moving within a long-term downward channel, rising toward the resistance line.

The range of EMA fluctuations on the Alligator indicator is actively expanding, and the histogram of the AO oscillator is forming new bars with an upward trend in the buying zone.

Resistance levels: 42.30, 46.90. | Support levels: 39.10, 35.80.

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