Bearish Moving Average Cross by eBay (EBAY)
eBay (NASDAQ:EBAY) crossed under its 10-day moving average of $51.86 on a volume of 4.3 million shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
eBay share prices have moved between a 52-week high of $53.15 and a 52-week low of $26.86 and are now trading 92% above that low price at $51.48 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 0.3%.
SmarTrend recommended that subscribers consider buying shares of eBay on July 19th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $43.85. Since that recommendation, shares of eBay have risen 18.6%. We continue to monitor EBAY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses