Ebay Wave Analysis – 29 November, 2022
November 29, 2022 @ 20:33 +03:00
• Ebay reversed from resistance level 47.50
• Likely to fall to support level 42.50
Ebay recently reversed down from the key resistance level 47.50 (which has been reversing the price from August), coinciding with the upper daily Bollinger Band and by the 50% Fibonacci correction of the downward impulse from April.
The downward reversal from the resistance level 47.50 stopped the previous short-term corrective wave (ii).
Given the clear daily downtrend, Ebay can be expected to fall further in the active impulse wave (iii) toward the next support level 42.50.