eBay is gapping higher on this Cyber Monday, likely as the market expects a solid showing there. Overall, though, EBAY has technical issues. The stock has seen a long, sloppy, sideways range since 2012 after a prior multi-year uptrend.
The stock also has a declining 200-day moving average. I am looking at this gap higher as a potential short entry this week. I am looking for signs of a rollover back below $52 at least in order to act. Other Cyber Monday plays like AMZN are too steep for me to play long, but far from the intriguing short that eBay is.
On the actionable long side, CNQ is starting to firm up. Note the recent spurt of buy volume, as price has been tightening up. Let’s see if strength over $33.50 can trigger another move higher.
What are you trading this morning?
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Long SCTY 52.5
Been a relative strength name in solars of late.
Oy!
LoL
Ebay saw significant shorting when it broke support post poor ChannelAdvisor sales. Now above and PayPal sales volumes +114%. I would say the fundamental reason to support the breakdown is disappearing
Lots of moving parts of the eBay fundies, for sure.
Retail brokers look good here, ETFC and IBKR.
Nice, Nick
AGQ…anyone crazy enough to call a silver bottom? no position,,but watching
I got stopped this morning on a 1/4 starter position.
lol…ahh you are crazy…I’m looking for a small starter myself here…too tempting