Trading Analysis of eBay
Trading Analysis of eBay
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:
Resistance | Support |
61.30 | 57.60 |
60.50 | 57.15 |
59.75 | 56.60 |
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:
Resistance | Support |
68.90 | 56.40 |
67.20 | 53.70 |
65.60 | 52.10 |
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