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

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Ebay Inc (NASDAQ:EBAY) based on the price action in the company's shares. Yesterday's price range of $33.71 and $34.04 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. Traders and investors interested in shares of Ebay Inc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Ebay Inc has overhead space with shares priced $34.26, or 29.0% below the average consensus analyst price target of $48.28. The stock should run into initial resistance at its 50-day moving average (MA) of $35.44 and subsequent resistance at its 200-day MA of $37.75.

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.

In the past 52 weeks, Ebay Inc share prices have been bracketed by a low of $27.28 and a high of $38.87 and closed yesterday at $34.26, 26% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

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: bullish am inside day candle ebay inc

Ticker(s): EBAY