Tuesday, January 28, 2014

Annual Trading Forecast on Ebay (2014)

The Ebay shares (NASDAQ:EBAY) are experiencing upswings followed by downswings, but the price may go upwards determinedly this year.

In the chart, the price broke up from the Trendlines (January 2014), spiked upwards, and then got corrected lower. The lower correction is therefore going into the Trendlines again, but it would not go below the lower Trendline. From that place, the price may resume its northward journey and move determinedly upwards. Apart from the fact that there is a demand level at the lower Trendline, this assumption is further confirmed by the RSI period 14 which also showcases a northward propensity.

Conclusion:  Ebay remains a murky market, but there could be a protractedly directional move this year. With the situation of things, I would prefer to be bullish and keep record of what happens in this market. I do not need to seek the Golden Goose trading methodology, though I am open to new trading principles. I would give those principles some baptism of fire and see for myself whether it can stand the test of the time. Should the outcome be negative, I would discard the principles. I am determined to keep a log of my trading activities and look for fine signals. The log helps me in many ways: like telling me what I did badly or right before. It is sad that some traders do not do this.

This forecast is ended with the quote below:

“When the market changes, then you should change, but investing according to what you think might happen rather than what is happening is usually a recipe for disaster.” – Van Tharp

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

Eye-opening trading lessons: Lessons from Expert Traders


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