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Bullish Moving Average Cross by eBay (EBAY)

By James Quinn

Today, shares of eBay (NASDAQ:EBAY) have crossed bullishly above their 10-day moving average of $30.82 on a volume of 3.0 million shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, eBay share prices have been bracketed by a low of $21.51 and a high of $31.79 and are now at $31.18, 45% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of eBay on April 6th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $24.94. Since that recommendation, shares of eBay have risen 23.0%. We continue to monitor EBAY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses

Ticker(s): EBAY