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Updated EBAY Chart & Commentary

 
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PostPosted: Sun Aug 13, 2006 7:28 am    Post subject: Updated EBAY Chart & Commentary Reply with quote
The EBAY six-month daily chart shows a bearish engulfing Fri. However, a bearish engulfing was created several months ago (see arrow) that lead to limited short-term downside. After the steep and sustained decline, there may be selling into strength, unless there's a catalyst for the shares to rise and stay elevated. Consequently, a volatile consolidation may soon take place, e.g. between 23 and 27. However, EBAY typically outperforms the market in the second half of the year.

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