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eBay: 52-Week High Recently Eclipsed (EBAY)

By James Quinn

Shares of eBay (NASDAQ:EBAY) traded today at $31.58, breaking its 52-week high. Approximately 1.8 million shares have changed hands today, as compared to an average 30-day volume of 12.8 million shares.

eBay (NASDAQ:EBAY) is currently priced 5.3% above its average consensus analyst price target of $29.90. The stock should discover initial support at its 200-day moving average (MA) of $26.05 and subsequent support at its 50-day MA of $24.26.

eBay Inc. operats an online trading community. The Company's service is used by buyers and sellers for the exchange of products and services such as coins, collectibles, computers, memorabilia, stamps, and toys, as well as concert and sporting tickets. Ebay also offers, through a subsidiary, secure online payment services.

Over the past year, eBay has traded in a range of $21.51 to $31.58 and is now at $31.56, 47% above that low. 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 25.9%. We continue to monitor EBAY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows

Ticker(s): EBAY