Technical analysis

Ebay Wave Analysis 8 April 2024

– Ebay reversed from key resistance level 52.60

– Likely to rise to support level 50.95

Ebay recently reversed down from the key resistance level 52.60 (which has been steadily reversing the price from the start of March) standing near the upper daily Bollinger Band.

The downward reversal from this resistance level stopped the earlier minor impulse wave v of the sharp upward impulse wave C from the middle of January.

Given the strength of the resistance level 52.60, Ebay can be expected to fall further to the next support level 50.95 (low of the previous correction iv).

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