Ebay Wave Analysis – 31 December, 2019

• Ebay reversed from resistance area
• Likely to fall to support level 34.50

Ebay previously reversed down from the resistance area lying between resistance level 36.50 (lower border of the gap area which formed at the end of October), upper daily Bollinger Band and the 50% Fibonacci correction of the previous sharp downward impulse from October.

The downward reversal from this resistance area started the active short-term correction (iv).

Ebay is expected to fall further toward the next key support level 34.50 (which has reversed the price multiple times from November).