Friday, November 17, 2006

EBAY Analysis 11.18.2006

Daily chart shows we have finally crossed above the 200sma. All moving average ribbons in proper order and moving up.

Strong weekly finish, having cleared prior LIS and s/r. Above the 34ema.

Move up started with piercing pattern reversal pattern and .707 fib level support. Price made a 3 wave pattern into .707 fib support. Cleared possible LIS and prior s/r at the $31 - 32 level. Keep in mind, month is only half over.

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