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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