Economies.com provides the latest technical analysis and forecast of the american stocks, in order to keep track of the trend of the US stocks.
eBay's stock gave up ground and breached the support of 31.28, representing the ratio 61.8% of Fibonacci retracement levels for an ascending wave in the medium term (from 21.52 to 47.07), with negative pressure from the 50-day SMA, coupled with a surge in trading volumes.
Therefore we expect more losses for the stock, targeting the next support at 27.55, which represents the ratio 76.4% of the same retracement levels, as long as the resistance of 31.28 holds on.
Expected trend for today: Bearish