Source: PaxForex Premium Analytics Portal, Technical Insight

eBay will report earnings in two weeks. Analyst Scott Devitt on Tuesday confirmed eBay's share BUY rating while increasing the target price to $66 from $52. Last month eBay provided an update in which it disclosed global sales during May and improved its forecast for gross margin growth in the second quarter ranging from 23% to 26% in the second quarter.

eBay, H4

Pivot: 58.97

Analysis:

Provided that the asset is traded above 58.45, follow the recommendations below:

• The timeframe: H4
• Recommendation: long position
• Entry point: 58.97
• Take Profit 1:  59.75
• Take Profit 2: 60.50

Alternative scenario: 

In case of breakdown of the level 58.45, follow the recommendations below:

• The timeframe: H4
• Recommendation: short position
• Entry point: 58.45
• Take Profit 1: 57.60
• Take Profit 2: 57.15

Comment:

RSI shows ascending momentum during the day.

Key levels:

eBay, D1

Pivot: 59.22

Analysis:

While the asset is traded above 56.40, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 59.22
• Take Profit 1: 63.90
• Take Profit 2: 65.60

Alternative scenario:

If the level 56.40 is broken-down, follow the recommendations below.

• Time frame: D1
• Recommendation: short position
• Entry point: 56.40
• Take Profit 1: 53.70
• Take Profit 2: 52.10

Comment:

RSI trades above 70. This may mean that either the stock is in a long uptrend or it is simply overbought and therefore a correction may form (look for a bearish divergence in this case). MACD is above its signal line and positive. Configuration is positive. In addition, the stock is above its 20 and 50-day moving average (51.33 and 46.61 respectively). Also, eBay trades above its upper Bollinger band (58.86).

Key levels:

We also advise you to pay attention to Intel for intra-day trading:

Pivot: 58.74

Analysis:

While the asset is traded above 55.30, follow the recommendations below:

• Time frame: H4
• Recommendation: long position
• Entry point: 58.74
• Take Profit 1: 62.00
• Take Profit 2: 63.60

Alternative scenario:

If the level 55.30 is broken-down, follow the recommendations below.

• Time frame: H4
• Recommendation: short position
• Entry point: 55.30
• Take Profit 1: 52.60
• Take Profit 2: 51.10