eBay Inc - EBAY
|
April 11, 2007
|
|
Last
Trade
|
$33.61
|
|
Volume
|
10,758,654
|
|
52-Week
High
|
$40.82
|
|
52-Week
Low
|
$22.83
|
|
Commentary: For today's chart we've chosen to take a look at EBAY
because it was unable to break above an interesting level of resistance. As you
can see from the chart below, the Fibonacci retracement levels have acted as
strong barriers to the price action and the $34.25 level is no exception. The
recent bounce off of the resistance will cause many technical traders to watch
for a corrective move toward the 23.6% level near $31.50. We'd expect EBAY
to remain range-bound between the two Fibonacci levels until the market is
able to send the price above $34.25.
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