Traders Beware!

Fraudulent websites posing to have a connection with JFD

Please be aware of fraudulent websites
posing as JFD's affiliates and/or counterparties

More information
by Darius Anucauskas

We Are Waiting For eBay Stock’s Next Big Move

Almost throughout the whole of last year, the eBay Inc stock (NASDAQ: EBAY) had been on a down-move, which forced it to close 2018 in the red. But the share price found its good support near the 26.30 hurdle in the end of October, from which it rebounded. But then, in the end of December, the stock re-visited that area and even slightly overshot it, finding another good floor at around the 26.00 level. From there onwards, EBAY continued to climb higher, but around mid-February, the stock started moving sideways and continues to do that till this day. The price is stuck roughly between the 35.50 hurdle and the 38.92 barrier, which means that we will remain somewhat neutral for now and wait until we see a clear break and a close of a daily candle outside of that range. Only then we will be able to consider a further directional move.

If the stock travels higher and closes above the upper bound of the aforementioned range, at 38.92, this might attract more buyers and the price could rise to test the 40.85 hurdle, marked by the high of June 7th. We may see EBAY stalling around there, or even retracing back down a bit. But if the stock remains above the upper side of that range, this could be a good opportunity for more investors to step in again and drive the price above the 40.85 barrier, aiming for the 43.00 mark, which is the high of April 20th, 2018.

Alternatively, a price-drop below the lower side of that range, at 35.50, could spook the buyers for a while, as such a move might open the door to further declines. We will keep a close eye on the 34.74 obstacle, which, if fails to withhold EBAY from moving lower, could lead to a bigger fall. This is when we will target the 32.76 hurdle, or the 32.32 level, marked by the low of January 24th.

eBay daily


The content we produce does not constitute investment advice or investment recommendation (should not be considered as such) and does not in any way constitute an invitation to acquire any financial instrument or product. The Group of Companies of JFD, its affiliates, agents, directors, officers or employees are not liable for any damages that may be caused by individual comments or statements by JFD analysts and assumes no liability with respect to the completeness and correctness of the content presented. The investor is solely responsible for the risk of his investment decisions. Accordingly, you should seek, if you consider appropriate, relevant independent professional advice on the investment considered. The analyses and comments presented do not include any consideration of your personal investment objectives, financial circumstances or needs. The content has not been prepared in accordance with the legal requirements for financial analyses and must therefore be viewed by the reader as marketing information. JFD prohibits the duplication or publication without explicit approval.

There are risks involved with trading of cash equities. Past performance is not indicative of future results. You should consider whether you can tolerate such losses before trading. Please read the full Risk Disclosure.

Copyright 2019 JFD Group Ltd.