Ebay Wave Analysis 21 August 2024

– Ebay broke daily up channel

– Likely to rise to resistance level 62.00

Ebay recently broke resistance level 56.90 (which reversed the price from the end of July) coinciding with the resistance trendline of the daily Triangle from last month.

The breakout of the resistance level 56.90 accelerated the active short-term impulse wave 3 – which then broke the wide daily up channel from last November.

Given the clear daily uptrend, Ebay can be expected to rise to the next resistance level 62.00 (target for the completion of the active impulse wave 3).