Thursday, May 26, 2011

Ebay possible buy opportunity 5/26

Ebay is lining up for a good opportunity for entry here. It looks like yesterday was a nice hammer on higher than average volume which always says to me that its put a floor in on its price. I would wait for it to crack the high of yesterdays session (@30.9) to be on the safe side as this usually confirms a hammers worthiness, otherwise take a dip near its lows for a very low risk entry. I dont know if I would predict this making new highs, but the top of this retracement channel could be more than doable in the next week or so for a 1$ or more profit.

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