eBay tumbles - Analysis - 06-05-2022

eBay's stock declined by 11.72% in the last session, settling at 48.04, with trading volumes surpassing 19.2 million shares.

The company reported a profit of $1.05 per share, beating estimates of $1.03, on sales of $2.48 billion, also beating estimates. 

The downward correctional trend is still dominating the stock, amid negative pressure from the 50-day SMA, coupled with negative signals from the RSI after reaching overbought levels.

Therefore we expect more losses for the stock, targeting the support of 42.00, provided the support of 47.44 was breached. 

Expected trend for today: Bearish