EBAY 1-3 Week Horizon
Price has been on a bull run for the past few months. It first created bearish channel (blue) and a new bullish channel (green). It broke the bearish channel (blue), retested it and gapped up. It gapped up enough to break bullish channel (green) . It is now forming a bull flag just above the bullish channel (green) and it might retest channel boundary (like it did on last channel) and move up more.
The buy zone has a confluence of 60.68 key support, 21ema (blue), bullish channel (green) boundary, and 38.20% fib. In my opinion, a good buy zone. Stop loss at 59.79 (-2%, just below key support and 21ema) and target1 at 67.38 (10%) a good 5:1 risk reward ratio.
Disclaimer
I am not a registered investment professional. These are just my opinion and not an investment advise or recommendation. For entertainment purposes only.
Price has been on a bull run for the past few months. It first created bearish channel (blue) and a new bullish channel (green). It broke the bearish channel (blue), retested it and gapped up. It gapped up enough to break bullish channel (green) . It is now forming a bull flag just above the bullish channel (green) and it might retest channel boundary (like it did on last channel) and move up more.
The buy zone has a confluence of 60.68 key support, 21ema (blue), bullish channel (green) boundary, and 38.20% fib. In my opinion, a good buy zone. Stop loss at 59.79 (-2%, just below key support and 21ema) and target1 at 67.38 (10%) a good 5:1 risk reward ratio.
Disclaimer
I am not a registered investment professional. These are just my opinion and not an investment advise or recommendation. For entertainment purposes only.