eBay stock is trading sideways inside the $38-42 range since the what-seems-like an exhaustion bar on April 19. The NASDAQ stock last traded for 40 dollars per share in late 2008 and has climbed back up from the 10-year low of $10 during the last three years. It’s also notable that the support level of the recent consolidation phase coincides with the March’s resistance level of 2012 uptrend. Another technical signal is the powerful bearish candlestick pattern that was completed on Wednesday, keeping eBay stock within the trading range. Additionally MACD divergence can be spotted in the eBay daily stock chart.
eBay Daily stock chart - Technical Analysis
Disclaimer: I’m neither long nor short eBay.
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