eBay in a free fall - Analysis - 22-10-2018

eBay's stock gave up ground and breached the support of 31.28, representing the ratio 61.8% of Fibonacci retracement levels for an ascending wave in the medium term (from 21.52 to 47.07), with negative pressure from the 50-day SMA, coupled with a surge in trading volumes. 

Therefore we expect more losses for the stock, targeting the next support at 27.55, which represents the ratio 76.4% of the same retracement levels, as long as the resistance of 31.28 holds on. 

Expected trend for today: Bearish