Current trend

Shares of eBay Inc., an American Internet retail company, have been trading in the central channel of Murrey’s trading range 45.31–42.19 (Murrey level [5/8]–[3/8]) for more than two months and have not yet been able to leave it: the price is close to the lower border of the corridor, consolidation below which will allow it to reach the area of 40.62 (Murrey level [2/8]) and 39.06 (Murrey level [1/8]). The key “bullish” level is 45.31 (Murrey level [5/8]), its breakout will allow growth to 46.88 (Murrey level [6/8]) and 48.44 (Murrey level [7/8]).

Technical indicators do not give a single signal: Bollinger bands reverse downwards, and the MACD histogram is stable in the negative zone, which indicates attempts to form a downward trend, while Stochastic reversed upwards near the oversold zone, not excluding a limited upward trend.

Support and resistance

Resistance levels: 43.75, 45.31, 46.88, 48.44.

Support levels: 42.19, 40.62, 39.06.

Trading tips

Short positions may be opened below 42.19 with the targets at 40.62, 39.06 and stop loss around 43.20. Implementation time: 5–7 days.

Long positions may be opened above 45.31 with the targets at 46.88, 48.44 and stop loss around 44.30.