Chart of the Week: Ebay
It’s time for our chart of the week, and this week we’re gonna focus in on tech name Ebay; symbol EBAY. Let’s take a look at this chart. It’s looking pretty good after building a nice base here and breaking out recently.
Take a look at this gap here in the chart. You can see, it’s held nicely from the earnings report back in July. It’s been making a nice series of higher highs, higher lows lately.
But what’s more important, it broke out last week above this $94 area and looks like it’s ready to tackle the $100 area, maybe up to about $110.
Long-term we see, since April, a nice series of higher highs and higher lows as well.
Relative strength is strong, volume trends are positive.
And if we go down to the MACD, it’s on a buy signal from about a week or so ago. You can see that right there.
So with earnings coming up this week, obviously there’s some risk that the stock is gonna fade and pull back. But the momentum seems to be very strong in this name, and I’ll think that we’ll get some nice action in this stock.
Again, this breakout above this consolidation range, between about $86 and $93, was on stronger turnover. And we followed through on it just on Friday and then yesterday as well.
I’m looking at Ebay to make a good run here. Maybe about 10-15% higher.
So take a look at Ebay. Thanks so much for watching everyone, and I’ll see you guys next time.
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