• Return to Headlines

After Yesterday's Rally of 1.54% Shares Could Potentially Pullback

By Shiri Gupta

eBay (NASDAQ:EBAY) traded in a range yesterday that spanned from a low of $33.16 to a high of $33.75. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $33.20 on volume of 5.5 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, eBay has traded in a range of $21.51 to $34.43 and is now at $33.59, 56% 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 January 6th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $30.47. Since that recommendation, shares of eBay have risen 8.6%. We continue to monitor EBAY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders

Ticker(s): EBAY