EBAY Inc. $EBAY has been in correction mode since earlier in the year after share price tagged $47. On the daily chart, we can see how price has been choppy, and in a falling channel. We can also see that price action after July failed to rebound to the channel resistance. This suggests bears are really in charge here, and EBAY will likely have further downside to go in 2018.EBAY Daily Chart(click to enlarge)Bearish Price Action & Outlook:- Price action in July shifted when price dropped sharply from around $38 to around $33.20 within a week. This was accompanied by strong volume suggesting institutional exits.- Furthermore, price action then developed what looks like a rounded top. In the middle of a downtrend, this pattern suggests further downside because it reflects a failed bullish attempt. - Finally, the RSi has been held under 60, which reflects maintenance of the prevailing bearish momentum.- I think the momentum and price action tells there is a lot of bearish pressure and that price will break lower than $33 and at least test the 2017-low around $30. Long-term View:- While EBAY is in a bearish correction mode in the medium-term, the long-term outlook is still bullish.- Looking at the weekly chart, we can see that there is a major correction going on, but also that the prevailing trend is intact. - $30 looks like a key level indeed, also being the resistance in 2015. A resistance like this can turn into support if the long-term trend is indeed still in play.- I would also monitor the RSI as it approaches 30. In this overall bullish market, RSI being under 30 would be an oversold signal.EBAY Weekly Chart(click to enlarge)