Ebay Wave Analysis 30 May 2024

– Ebay reversed from support level 51.00

– Likely to rise to resistance level 54.60

Ebay recently reversed up from the key support level 51.00, which has been reversing the price from the middle of May.

The support level 51.00 was strengthened by the 20-day moving average and by the 61.8% Fibonacci correction of the upward impulse 1 from the start of May.

Given the clear daily uptrend, Ebay can be expected to rise further to the next resistance level 54.60 (which stopped the previous minor impulse wave 1).