ebay stock chart

Ebay Stock’s Dip May Be Opportunity For Investors

A recent pullback of Ebay stock (NASDAQ: EBAY) may provide an opportunity for some investors. A strong “Black Friday” could drive the stock up.  EBay shares are trading at a 1.6% premium on the new 9-month low of November 15, reflecting a downtrend since the end of October after the publication of a poor quarterly report. The drop in the issuer’s quotes from the July 52-week high exceeded 15.5%. Earlier, the CEO left the post due to disagreements with the Board of Directors. The main business of online commerce and online auctions remains in the focus of development, other assets will be sold.

Over the past week, eBay shares fell 0.43%. Over the same period, the S&P 500 index rose 1.13%.

Support and resistance

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The company’s shares stabilized after a sharp fall in the second half of October. Quotes are currently being consolidated. There is no unidirectional trend observed. The issuer is testing local support and resistance levels: 34.50 and 35.50, respectively. There is potential for further decline. The signals of the indicators are different: the price fixed below MA (50) and MA (200); MACD is showing positive momentum. It is better to open the positions from the key levels.

A comparative analysis of the multiples of the company and competing companies in the industry indicates that the instrument is underpriced.

Resistance levels: 35.50, 36.50, 37.30.

Support levels: 34.50, 33.00.

Trading Ideas

Short positions may be opened after the price consolidates below the level of 34.50. The closing of the profitable positions is possible at 33.50, 32.50 and 32.00. Stop loss – 35.50.

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Long positions may be opened after the price consolidates above the level of 35.50 with the targets at 37.00–38.00. Stop loss – 34.50.

Implementation period: 3 days.

Recommendations

Oct-24-19 Reiterated BofA/Merrill Neutral $45 → $42
Oct-24-19 Downgrade Raymond James Outperform → Mkt Perform
Oct-24-19 Downgrade Aegis Capital Buy → Hold
Oct-21-19 Resumed Deutsche Bank Hold $46 → $42
Sep-27-19 Downgrade Wells Fargo Outperform → Market Perform
Sep-04-19 Downgrade UBS Buy → Neutral $42
Jul-18-19 Reiterated Aegis Capital Buy $43 → $45
Apr-24-19 Reiterated The Benchmark Company Buy $42 → $45
Jan-30-19 Reiterated The Benchmark Company Buy $41 → $42
Jan-30-19 Reiterated Susquehanna Positive $33 → $43
Jan-30-19 Reiterated Raymond James Outperform $35 → $39
Jan-30-19 Reiterated Citigroup Buy $42 → $41
Jan-23-19 Reiterated BofA/Merrill Neutral $34 → $38
Jan-04-19 Downgrade Goldman Buy → Neutral
Jan-02-19 Reiterated Aegis Capital Buy $44 → $40
Dec-12-18 Downgrade Morgan Stanley Overweight → Equal-Weight
Oct-31-18 Reiterated UBS Buy $44 → $42
Oct-31-18 Reiterated The Benchmark Company Buy $50 → $41
Oct-31-18 Reiterated RBC Capital Mkts Sector Perform $34 → $31
Oct-31-18 Reiterated Raymond James Outperform $34 → $35

Pivots

Pivot Classic Fibonacci Camarilla Woodie DM
S3 27.94 32.28 34.06 28.99 —
S2 32.28 33.93 34.45 32.06 —
S1 33.76 34.96 34.85 33.33 33.02
P 36.62 36.62 36.62 36.40 36.24
R1 38.10 38.27 35.65 37.67 37.36
R2 40.96 39.30 36.05 40.74 —
R3 45.30 40.96 36.44 42.01 —

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1 Day Moving Averages

Exponential Moving Average (5) 35.09 Buy
Simple Moving Average (5) 35.01 Buy
Exponential Moving Average (10) 35.24 Sell
Simple Moving Average (10) 35.13 Sell
Exponential Moving Average (20) 35.83 Sell
Simple Moving Average (20) 35.74 Sell
Exponential Moving Average (30) 36.39 Sell
Simple Moving Average (30) 36.66 Sell
Exponential Moving Average (50) 37.20 Sell
Simple Moving Average (50) 37.77 Sell
Exponential Moving Average (100) 37.86 Sell
Simple Moving Average (100) 38.97 Sell
Exponential Moving Average (200) 37.49 Sell
Simple Moving Average (200) 38.08 Sell
Ichimoku Cloud Base Line (9, 26, 52, 26) 36.95 Neutral
Volume Weighted Moving Average (20) 35.68 Sell
Hull Moving Average (9) 35.01 Buy

1 Day Oscillators

Relative Strength Index (14) 37.21 Neutral
Stochastic %K (14, 3, 3) 34.31 Neutral
Commodity Channel Index (20) −56.73 Neutral
Average Directional Index (14) 36.37 Neutral
Awesome Oscillator −1.79 Neutral
Momentum (10) −0.31 Buy
MACD Level (12, 26) −0.84 Buy
Stochastic RSI Fast (3, 3, 14, 14) 95.04 Neutral
Williams Percent Range (14) −65.27 Neutral
Bull Bear Power −0.40 Neutral
Ultimate Oscillator (7, 14, 28) 47.74 Neutral