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Ebay Inc Falls 2.48% on Heavy Volume: Watch For Potential Rebound

By James Quinn

Ebay Inc (NASDAQ:EBAY) traded in a range yesterday that spanned from a low of $42.69 to a high of $44.22. Yesterday, the shares fell 2.5%, which took the trading range below the 3-day low of $43.34 on volume of 4.6 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Ebay Inc has traded in a range of $22.30 to $123.47 and is now at $42.81, 92% above that low. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 0.3%.

SmarTrend recommended that subscribers consider buying shares of Ebay Inc on December 8th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $37.58. Since that recommendation, shares of Ebay Inc have risen 16.8%. We continue to monitor EBAY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders ebay inc

Ticker(s): EBAY