EBAY INC.: MURRAY ANALYSIS

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EBAY INC.: MURRAY ANALYSIS
Scenario
TimeframeWeekly
RecommendationBUY STOP
Entry Point46.90
Take Profit48.44
Stop Loss45.90
Key Levels42.19, 43.75, 45.31, 46.88, 48.44
Alternative scenario
RecommendationSELL STOP
Entry Point45.30
Take Profit43.75, 42.19
Stop Loss46.45
Key Levels42.19, 43.75, 45.31, 46.88, 48.44

Current trend

Shares of eBay Inc., an American online retail company, have been growing for three consecutive sessions and have now risen to the upper limit of the Murray trading range at 46.88 (Murray level [8/8]). Consolidation above this level will allow the quotes to continue moving up to the 48.44 mark (Murray level [ 2/8]). The key for the "bears" is the reversal level of 45.31 (Murray level [6/8]), when it is broken down, the downward dynamics can continue to the area of 43.75 (Murray level [4/8]) and 42.19 (Murray level [2/8]).

Technical indicators allow for further growth: the Bollinger Bands are horizontal, the Stochastic is directed upwards, the MACD histogram increases in the positive zone.      

Support and resistance

Resistance levels: 46.88, 48.44.

Support levels: 45.31, 43.75, 42.19.

EBAY INC.: MURRAY ANALYSIS

Trading tips

Long positions can be opened above 46.88 with a target at 48.44 and stop-loss at around 45.90. Implementation period: 5-7 days.

Short positions may be opened below 45.31 with targets at 43.75, 42.19 and stop-loss in the area of 46.45.

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