EBAY Wave Analysis – 4 November, 2021

• EBAY reversed from support zone

• Likely to rise to resistance level 80.00                                                                    

EBAY recently reversed up with the daily Bullish Engulfing from the support zone located between the round support level 70.00, lower daily Bollinger Band and the 61.8% Fibonacci correction of the previous upward impulse from June.

This reversal started the active short-term impulse wave 5 – which belongs to wave (C) from March.

Given the clear daily uptrend, EBAY can be expected to rise further toward the next round resistance level 80.00 (top of the previous impulse wave (i)).