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Possible Bearish Inside Day Candle Pattern Detected for Ebay Inc (NASDAQ:EBAY)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Ebay Inc (NASDAQ:EBAY) based on the price action in the company's shares. Yesterday's price range of $36.73 and $37.19 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Ebay Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Ebay Inc share prices have moved between a 52-week high of $38.87 and a 52-week low of $27.28 and closed yesterday at 36% above that low price at $37.13 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has remained constant.

Potential upside of 30.0% exists for Ebay Inc, based on a current level of $37.13 and analysts' average consensus price target of $48.28. The stock should find resistance at its 200-day moving average (MA) of $37.76, as well as support at its 50-day MA of $35.53.

eBay Inc. is a global commerce company. The Company's platforms are designed to enable sellers worldwide to organize and offer their inventory for sale and buyers to find and buy it. eBay's items can be new or used, plain or luxurious, commonplace or rare, trendy or one-of-a-kind.

SmarTrend is tracking the current trend status for Ebay Inc and will alert subscribers who have EBAY in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle ebay inc

Ticker(s): EBAY