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.

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.