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Wednesday, March 26, 2008

eBay Inc (EBAY) Technical Analysis

Today we'll analyze the Stock EBAY for online market trading,
Technical indicators to notice:
1- Last bearish trend was from 26.70$ (03/13/08) to 25.77$ (03/17/08) a 0.93$ move
2- The current bullish trend started from 25.77$ at 03/17/08 and is currently trading at 29.40$.

3- According to ADX, the trend is currently bullish, which is getting stronger.furthermore, the ADX location between DMI+ and DMI- is hinting on a strong move ahead. the stock is very volatile at this point.
Short term chart patterns :
4- The Stock formed Double Bottom Pattern at 25.77.
5- The Stock formed Double Top Pattern at 26.7 that failed, and formed a support .
6- The Stock formed a 1.02$ height triangle which was broken up at 27.55 in higher than usual volume, target of the pattern is 28.57.
Mid term chart patterns :
7- The Stock formed Double Top Pattern at 28.81 that failed, and formed a support .
8- The Stock traded in a bearish channel identifed by support at 25.72 and 26.12, resistance between 28.81 and 28.94 which was broken up at 28.6 in higher than usual volume.
Long term chart patterns :
9- The Stock was resisted by a resistance line, identified by two points: 28.81 and 34.49 that was broken up at 28.07 transforming into a supporting line.

Conclusion:
EBAY was trading in a bullish wave, which is becoming stronger .
Technical indicators and chart patterns show highly volatile movements favoriting bullish direction,
recommend stopping short positions or entering long position or bullish spread options strategy , because of the high expected future volatility, consider constructing symmetrical options strategies for buying volatility through strangles or straddles.
.

Resistance Levels: 34.49, 34.58.
Support Levels: 28.54, 28.26, 28.01, 27.58, 27.16, 26.65, 25.82, 25.77,.


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Shadi
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We Moved!!!

Please check our new site : The stocks profit, for
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you can also subscribe to its RSS feeds or newsletter to get updated when new analysis is posted
GO ahead and click in!read the latest technical analyis of all the TSX, NYSE, NASDAQ, AMEX stocks and find
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enjoy
Shadi