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eBay Set to Possibly Pullback After Yesterday's Rally of 2.71%

By James Quinn

eBay (NASDAQ:EBAY) traded in a range yesterday that spanned from a low of $34.00 to a high of $34.88. Yesterday, the shares gained 2.7%, which took the trading range above the 3-day high of $34.73 on volume of 2.6 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

eBay share prices have moved between a 52-week high of $36.50 and a 52-week low of $21.51 and are now trading 62% above that low price at $34.85 per share. 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 11.5%. 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