EBAY Long-term outlook

Amazon, Bestbuy, EBAY, Alibaba, all of them is famous marketplace which influences current consumer behavior in purchasing their needs. Recent research shows buying behavior shifting in a fast manner to online shopping. All of this result in the boom of online e-commerce at the toll of traditional retailers.

EBAY stand as one of the top online e-commerce platforms, ranked third in the number of traffics. The shift toward online shopping will continue and will benefit all e-commerce company in the future. Although all indication pointed to positive future, a simple Trumponomic policy to limit globalization might put much pressure on EBAY future operation. We will know better what will happen to the company when President Trump implements his policies.

New Month

Monthly chart

The monthly chart of EBAY shows a strong bullish trend with consistent upward movement. It has been in the uptrend since 2009 and without a significant correction. There is a possibility the upward momentum will be exhausted but no evidence to that theory yet.

The trader should stay bullish in the stock as long as the price stay inside the blue bullish channel.

Weekly chart

A bullish sign also appears in the weekly chart of EBAY. The price fell after it touched the top of the bullish channel, and it formed bullish pin bar between 50-61.8% Fibonacci retracement level. If the price can close above $30, the bull will have a new opportunity to challenge the top of the channel again.

Daily chart

EBAY in daily chart provides mix outlook. There was optimism when the price gapped up in July earnings report, but disappointing guidance on past October made the price gapped down.

It is currently hovering below $30, searching for a chance to break above this gap level. A close lower than $27 will put the stock into a possible medium-long term bearish trend.