eBay Inc. (NASDAQ:EBAY) gained 0.85% in yesterday’s session, going up from its prior closing price of $38.66 to $38.99 The stock price went upward in 6 of the last 10 days and has generated 1.93% during the last two weeks. Trading activity decreased by -0.45 million shares, and in total, 5.18 M shares exchanged hands for about $201.85 million. It should be noted that increasing price and decreasing volume show lack of interest and this is a warning that something has fundamentally changed.
Inside EBAY’s Recent Trend
eBay Inc. (EBAY) lies in the upper part of a wide and weak rising trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $39.74 will firstly indicate a stronger raising rate. Short-term traders are predicted to see a rally of 8.26% over the course of a quarter and, with 90% chance the price will be floating in the range of $38.71 and $43.02 in this timeframe.
eBay Inc. Technical Signals
EBAY has witnessed its long term and short term MA triggering a buy signal. Many traders watch for short-term averages to cross above long-term averages to signal the beginning of a uptrend. Upon corrections, the price will meet support from the averages between $38.48 and $37.09. A break down through these support points will trigger sell signals. Its pivot point low generated buy signal on Thursday September 28, 2017, which calls for additional surge until the stock forms a new pivot point high. There was a decrease in volume but the price rose. This is usually not interpreted as a good sign as traders widely believe falling volume should see declining stock. Investors should be watching the price action like a hawk in the coming sessions.
eBay Inc. (NASDAQ:EBAY) Support And Resistance Levels
eBay Inc. (EBAY) recorded volume accumulation so there will probably be a surplus of buyers at $37.08. It seems to be blessed by the accumulated volume as it meets no resistance above current level and favorable trading conditions will help the stock to show strong performance in the coming days.
eBay Inc. (EBAY) Risk Assessment
The number of shares changed hands in the stock is good, indicating the interest and low risk associated with it. In the most recent session, the stock price hovered around $0.36 (0.93%) between intraday high and intraday low. Each day in the past 1 week, the average volatility remained at 1.33%.