Wednesday 18 April 2012

Ebay - bear flag..or floor?

Ebay is a good company, but its looking vulnerable to a secondary wave lower.


Ebay, daily


Clear levels..
37+...floor is in..and we're going to challenge for new  highs
sub 35..and we'll be looking to test the January breakout level of $32/30.
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I'm a very big fan of Ebay.. good company, and arguably recession proof to a large extent (poor people selling their stuff online to raise cash theory)...but from a price perspective, Ebay looks vulnerable to 15% fall - the 200 day MA at $32 would indeed be a prime attractor/floor.