03/16/00 eBay Inc (EBAY)
Points to watch:
eBay jumped 28 in after hours trading on
Tuesday, moving above its all-time high before reversing in pre-open trade
on Wednesday. The stock fell from the open on Wednesday, ending the
day down 21.50 at 189.50 after hitting an intraday low of 185.50.
The stock closed even with the 38% retracement of its 2/22/00-3/14/00
rally.
The stock tested and held support on
Wednesday. Strong support exists at 186, a level which acted as resistance
last June and November.
Long term technicals remain strong, but
short term technicals are deteriorating. Daily RSI has dropped below
60 from overbought territory, daily OBV has turned down, and daily
stochastics is moving lower from overbought.
A sell short signal would be given on a
break below support at 186, with downside support points then at 178.7
(the 50% retracement level), 175.4, 168.2 (the 62.8% retracement), 163.8,
157.8, and 154.2. Resistance is at 203 and 211.
