Current trend

Shares of eBay Inc., an American online retailing company, are trading within the long-term uptrend: last week, the price moved into the positive part of the main Murrey trading range and is currently actively testing the reversal mark of 59.38 (Murrey level [6/8]), consolidation above which will ensure continued growth towards the targets of 60.94 (Murrey level [7/8]) and 62.50 (Murrey level [8/8]). The key for the "bears" is the central mark of the trading range at 56.25 (Murrey level [4/8]), supported by the central line of Bollinger Bands, with a breakdown of which downward dynamics can resume to 53.12 (Murrey level [2/8]) and 51.56 (Murrey level [1/8]).

Technical indicators confirm the continuation of the uptrend: Bollinger Bands are directed upwards, MACD is increasing in the positive zone, and Stochastic is reversing down in the overbought zone, which does not exclude a corrective decline, but its potential is seen to be limited.

Support and resistance

Resistance levels: 59.38, 60.94, 62.50.

Support levels: 56.25, 53.12, 51.56.

Trading tips

Long positions can be opened above the 59.38 mark with targets of 60.94, 62.50 and a stop-loss around 58.25. Implementation period: 5–7 days.

Short positions should be opened below the level of 56.25 with targets of 53.12, 51.56 and a stop-loss around 58.00.