EBAY Analysis for 11.10.2007

EBAY - EBAY

Piper Jaffray upgraded Ebay from "market perform" to "outperform" on November 9, 2007. The analyst has a 12 month price target of $43. Monthly chart shows price to be stuck in a corrective wave. Based on pattern currently present, it is more likely to see price closer to $23 before $43.

Weekly chart better shows the corrective pattern into the $40.79 area high. No buy signal evident yet.

Daily chart shows potential 5 waves down into current support at the $32 range. Early buyers stepped back into the stock, gapping up the price at the open in their haste to get into the stock. Look for possible retracement of the last leg down. Look for sell signal after the retracement.