Ebay Inc. shares (NASDAQ:EBAY) are already showing signs of weakness, but
the trend will not turn completely bearish until the demand zone at 33.00 is
breached to the downside and price remains below it.
In spite of what is said in the preceding paragraph, there is already a
short-term “sell” signal in the market. The ADX period 14 is around the level
20, which shows low momentum with a possibility that the momentum will rise
soon. The DM- has just crossed the DM+ to the upside, which shows that buyers
are capitulating.
The MACD default parameters, has its signal lines pointing downwards,
threatening to cross the zero line to the downside. The histogram is already
below the zero line. Once the signal lines go below the zero line, there would
be a Bearish Confirmation Pattern in the market, which would signal the possibility
of a bearish year for eBay.
Given the conditions in the market and the indicators readings, the probabilities
that EBAY will go bearish is very high.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Trading realities: Trading realities
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