Ebay recently reversed up from the support area lying between the pivotal support level 38.35 (which has been reversing the price from August) and the 50% Fibonacci correction of the previous upward impulse 1 from May.
The upward reversal from this support area started the active impulse wave 3 – which is a part of the medium-term upward impulse sequence (3) from June.
Ebay is expected to rise further and retest the next resistance level 41.40 (target price for the completion of the active impulse wave 3).
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