eBay gathers positive momentum - Analysis - 23-01-2017

eBay's stock fell in the intraday levels, recording a loss of 0.26% in the last session, or 0.08 points, after the important resistance of 30.93 held on, representing the ratio 61.8% of Fibonacci retracement levels for a descending wave in the short term (from 33.18 to 27.28), while trying to gather positive momentum to help it rise again and attack the resistance, with ongoing positive support from the SMA for the last 50 days period, while noting relative power indicators have reached extremely oversold levels compared to the stock's own downward movement.
 
Therefore we expect the stock to return higher in the coming trading, as long as it settles above 30.23, targeting the next resistance at 30.93, which represents the ratio 61.8% of the same retracement levels mentioned earlier, readying to pierce it.