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After Yesterday's Decline of 1.38%, eBay Offers Investors Better Value (EBAY)

Written on Fri, 07/30/2010 - 1:18am
By Chip Brian

eBay (NASDAQ:EBAY) traded in a range yesterday that spanned from a low of $20.55 to a high of $21.20. Yesterday, the shares fell 1.38%, which took the trading range below the 3-day low of $20.82 on volume of 11.2 million shares.
Shares of eBay are currently trading below their 50-day moving average (MA) of $21.12 and below their 200-day MA of $23.32. Look for these MAs to provide resistance for a short-term rebound in the shares.
SmarTrend is bearish on shares of eBay and our subscribers were alerted to Sell on April 22, 2010 at $24.36. The stock has fallen 14.8% since the alert was issued.
SmarTrend has the shares in a Downtrend and expects the share price to rebound toward the $20.82 resistance level. Afterwards, we expect it to move downward with its peers in the SmarTrend Internet Information Providers industry.

Keywords: trading range stock news

Ticker(s): EBAY


Company Information For: EBAY

Contact Chip Brian
Smartrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.mysmartrend.com.

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