EBAY INC.: MURRAY ANALYSIS

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EBAY INC.: MURRAY ANALYSIS
Scenario
TimeframeWeekly
RecommendationBUY STOP
Entry Point49.05
Take Profit51.56, 53.12
Stop Loss48.20
Key Levels42.19, 43.75, 45.31, 50.00, 51.56, 53.12
Alternative scenario
RecommendationSELL STOP
Entry Point45.30
Take Profit43.75, 42.19
Stop Loss46.45
Key Levels42.19, 43.75, 45.31, 50.00, 51.56, 53.12

Current trend

Shares of eBay Inc., an American online retail company, continue to grow, correcting to a long-term downward trend.

The price reversed from the reversal level of 40.62 (Murray level [2/8]), broke into the positive part of the Murray trading range and is currently trying to consolidate above 48.44 (Murray level [7/8]). If successful, the growth will continue to the level of 50.00 (Murray level [8/8]) and further into the reversal zone to the levels of 51.56 (Murray level [ 1/8]) and 53.12 (Murray level [ 2/8]). The key for the "bears" is the 45.31 mark (Murray level [5/8]), supported by the middle line of the Bollinger Bands, its breakdown will lead to the development of movement within the central Murray channel to the 43.75 (Murray level [4/8]) and 42.19 (Murray level [3/8]).

Technical indicators point out the continuation of the upward trend: the Bollinger Bands and the Stochastic are directed upwards, the MACD histogram increases in the positive zone.  

Support and resistance

Resistance levels: 50.00, 51.56, 53.12.

Support levels: 45.31, 43.75, 42.19.

EBAY INC.: MURRAY ANALYSIS

Trading tips

Long positions can be opened from 49.00 with targets at 51.56, 53.12 and stop-loss at around 48.20. Implementation period: 5-7 days.

Short positions may be opened below 45.31 with targets at 43.75, 42.19 and stop-loss in the area of 46.45.


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