July 26, 2014
EBAY Inc. (EBAY)
Ebay is a trader’s dream stock. Ebay has been in a sideways channel since 2012, hitting the same resistance and support levels – knowing when to go short and when to go long. As you can see below on the chart, you will see the sideways channel which has been consistent for 2 years. Ebay recently has hit the bottom support area and it looks like now is the time to buy. With 6 weeks of Ebay making higher highs, I would wait for a small pullback and I would like to buy Ebay around $51.50. If a pullback does not give me $51.50, I will still be happy to buy in the low $52 range. An obvious sell for Ebay would be in the $56 dollar range as the last 6 times has been in the past 2 years. I like Ebay here and I see this at $56 in a couple weeks. Good luck guys!
*Click on the image to enlarge*