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Oversold eBay Inc Nears Daily Chart Support

|Includes: eBay Inc. (EBAY)

Leading online commerce company Ebay Inc (NASDAQ:EBAY) has been steadily declining lower since topping out on February 27, 2014 at $59.70 a share. Today, EBAY Inc stock is trading lower by 0.33 cents to $49.00 a share. It should be noted that the stock is currently trading below all of its major daily chart moving averages. Anytime a stock trades below its 20, 50, and 200-day moving averages it is usually a sign of weakness in the near term. Traders and investors that are trying to find a reason to own the stock will need to find other supporting factors. Traders can now watch for near term daily chart support around the $47.25 level. This is an area where the stock topped out in 2006. While this area was a resistance level in 2012 for EBAY Inc stock, it will now become a support area should EBAY Inc stock decline lower in the coming days. The stock also has major support around the $40.68 level should the $47.25 fail to hold up.

Nick Santiago