Send me real-time posts from this site at my email

EBAY is Confirming a Bullish Continuation Breakout

Ebay Inc. $EBAY has been consolidating since March and broke above this consolidation range in late June. Since that breakout, price has been consolidating narrowly right above the larger consolidation range. I think price action is confirming the bullish breakout.

EBAY Daily Chart

(click to enlarge)

Bullish Continuation Breakout:
- As we can see on the daily chart, EBAY has been on a bullish run since late 2018, ending an almost year-long correction.
- We had a price bottom, a bull run, then another consolidation.
- Note that the RSI has held above 40, and is pushing above 70 again (a bullish continuation dynamic for the RSI)
- Now price has broken above that March-June consolidation. 
- The recent pause right above $40 means the market is tentative, but at the same time has a bullish bias keeping price above $40. 
- A close above $41 should further confirm the breakout and the $46-$47 high would still be in sight.
- Even if there is short-term volatility and price pulls back, I think a hold above $38 would be a strong bullish sign.

Welcome!!! Is it your First time here?

What are you looking for? Select your points of interest to improve your first-time experience:

Apply & Continue