Current trend

Shares of eBay Inc., an American online retailing company, are adjusting at 64.00.

Baird analysts confirmed the rating of the emitter's shares at the "Outperform" level, increasing the target price from 62.0 dollars to 70.0 dollars per paper. Needham & Co. experts also agreed with their colleagues and raised the stock's rating to the "Buy" level and set a target price of 72.0 dollars. According to analysts, the company's focus on selling used goods creates an advantage over competitors during a period of high prices, and the recent reduction in interest rates in China may stimulate an increase in the activity of sellers and buyers.

eBay Inc.'s financial report for the third quarter, which will be published on October 30, suggests revenue growth of 2.55 billion dollars, down from 2.60 billion dollars in the previous quarter, but above 2.50 billion dollars over the same period a year earlier. Earnings per share (EPS) may amount to 1.18 dollars, which coincides with the indicator of the previous period and significantly exceeds 1.03 dollars a year earlier.

On September 13, the payment of quarterly dividends took place, the value of which amounted to 0.27 dollars per share, which is equivalent to a yield of 1.84%. The next payment will be sent to shareholders in December, amounting to the same 0.27 dollars per paper.

Support and resistance

On the D1 chart, the asset is trading within the corrective trend, moving further away from the resistance line of the ascending channel with the boundaries of 69.00–60.00.

Technical indicators have not yet reversed around and hold a stable buy signal: the range of EMAs fluctuations on the Alligator indicator is narrowing, fast EMAs are still above the signal line, and the AO histogram forms new correction bars, being slightly above the transition level.

Support levels: 62.60, 57.60.

Resistance levels: 65.40, 69.50.

Trading tips

If the asset continues to grow and the price consolidates above the local maximum of 65.40, one may open long positions with a target of 69.50 and a stop-loss of 63.00. Implementation period: 7 days and more.

In the event of a reversal and continued decline of the asset, as well as price consolidation below the support level of 62.60, one can open short positions with a target of 57.60 and a stop- loss of 65.00.