Ebay Inc Keeps Dropping, Here’s The Next Bid
Leading online marketplace and electronic payment services company, eBay Inc (EBAY), is trading lower again today. The stock topped out on October 22nd, 2021 at $81.19 a share. Today, the shares are trading at $63.50 a share which is about 21% off of the recent highs. The electronic commerce giant has now broken below the important 50 and 200-day moving averages. This is a sign of weakness and often signals lower share prices ahead.
The next major support level for eBay Inc (EBAY) stock will be around the $60.00 level. This key level is where the shares have a major retrace level from the 2020 low to the 2021 top. This will usually be solid support when initially tested. There is also a key breakout area from May 2021 which lead to new all-time highs for the stock. This combination of supporting factors should lead to a solid longside swing trade.
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