EBAY trade ideas
At Least .52 and Likely More!Given support and resistance, and the expected market conditions for Monday morning; I would say at least .52 (target for the pattern is actually 38.21)....and if it breaks through and keeps going! All indications spells the following: Profitable Day-Trade
This is not trading advice.
Short Setup on EBAY by ThinkingAntsOk4H CHART EXPLANATION:
If price breaks down the Support Zone of the range, it has potential to start a downside move towards the Support Zone at 31. A few days ago it started to show weakness on MACD, as we can observe the Bearish Divergence while the price tried to make higher highs.
Daily vision:
$EBAY Not a great deal of confidence pre earnings, bias is shortWe have had a short bias on this stock for some time despite a bounce since December lows. Momentum in that recovery has staled considerably and the activist stimulus has run its course. Ebay competes with possible the greatest company that exists today in the retail/tech world, AMAZON. We will remain short in EBAY and long in AMZN into earnings in what will be a pivotal week for the both companies.
$EBAY EBAY, sorry, but it just isn't Amazon.Ebay was having a dreadful time until it was announced that activist investors had stepped in. It is thought there is much value to unlocked in the stock but we just cant see it. It is in the same marketplace as AMZN, whom can outspend EBAY at any moment the feel like EBAY is taking any market share.
BUY! WEEKLY CHART - BULLISH INDICATORSeBay, the long forgotten company!
Weekly Chart looks good. Although it must break upward resistance around $35.50, it should run higher.
Currently, the stock is trading under the cloud. It does not worry us because indicators are turning up, BULLISH
Almost every indicator is turning BULLISH
MACD - Turning BULLISH
RSI - Turning BULLISH
STOCHASTIC - Turning BULLISH
ON BALANCE VOLUME - Turning Up, BULLISH
ACCUMULATION / DISTRIBUTION Should start moving up after this post!
Position: 30,000 SHARES
PRICE: $34.57 (We took the position on Thursday)
EBAY ichimoku signalIchimoku singal
Conversion over base
Bullish cloud
Candle closed above cloud
Lagging span closed above cloud
Trend continuation signals
Higher highs, higher low
double bottom
Support/Resistance
green previous support on daily
Yellow strong resistance on the daily (there's a couple of weaker resistance lines on the daily on the way up)
3:1 Risk/Reward
appreciate the feed back from the experienced guru's out there as this is the first analysis i'm sharing. i'm just a dumb boilermaker!