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

By David Diaz

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. Today's price range of $36.82 and $37.05 is within yesterday'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.

Potential upside of 30.6% exists for Ebay Inc, based on a current level of $36.96 and analysts' average consensus price target of $48.28. The stock should hit resistance at its 200-day moving average (MA) of $37.73, as well as support at its 50-day MA of $35.63.

Ebay Inc share prices have moved between a 52-week high of $39.25 and a 52-week low of $27.28 and are now trading 35% above that low price at $36.96 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

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 inside day candle ebay inc

Ticker(s): EBAY