EBay stock (NASDAQ:EBAY) has found support around
the EMA 200, as a potential death cross was averted and the price rallies from
there. The price gapped up seriously at the end of September 2014, and it later
dropped. But the price has turned upwards after testing the EMA 200, which acts
as a great support for bullish effort.
In the chart, 4 EMAs are actually used and they are
the EMAs 10, 20, 50 and 200. The color that stands for each EMA is shown at the
top left corner of the chart. The market has been volatile seriously, but the
recent action of the EMAs shows that the near-term bias is bullish. Transient
noises ought not to mislead a professional trader, especially one who respects
the big picture. It is shameful for an expert swing trader to be misled by a
mere fleeting noise in the market. It is shameful for a professional hunter to
report being chased by a rodent.
From here, the price may go upwards to test the
distribution territory at 60.00 to the upside. The distribution territory may
even be breached to the upside as the market goes towards another distribution
territory at 70.00.
This forecast is ended by the quote below:
"You have all it takes to be a fantastic trader. You might
just need someone to boost you up and give you the confidence to triumph." -
Louise Bedford
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Learn from the Generals of the Markets: Market Generals
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