Ebay shares (NASDAQ:EBAY)
have been trending upwards since the last several months. The market is in a
clear uptrend and this is what is supposed to happen most of this year.
4 EMAs are used for this
analysis, and they are EMAs 10, 20, 50 and 200. The color that stands for each
EMA is shown at the top left part of the chart.
All the 4 EMAs are
sloping upwards, suggesting a nice uptrend. Price may pull back temporarily
into EMAs 10 or 20, even 50 (along the way). But such pullbacks would only
result in a nice buying opportunities.
This year, Ebay may test
the resistance lines at 40.00, 50.00 and 60.00.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Super Trading Strategies: Super Strategies
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