eBay Close to the 200 Day

Published on Monday, 30 August 2010 05:08 Written by Christian Paolinetti

New York, August 30th (TradersHuddle.com) - Shares of eBay Inc. (NASDAQ:EBAY) traded at $23.18 close to its 200 day moving average currently set at $23.13. eBay's price action is just above this key support level, and it will certainly raise traders attention, as a possible trading opportunity.

eBay Inc. (NASDAQ:EBAY) operates an online auction community. The service is used to buy and sell products and services such as coins, collectibles, computers, memorabilia, stamps and toys, and sporting tickets. eBay also offers, through its subsidiary PayPal, secure online payment services.

Latest price action range, defined by a peaks and troughs algorithm places calculated support at $19.92 and calculated resistance at $23.61. These levels will certainly be watched by traders, as they provide insight into the latest price dynamics defined by eBay stock.

Traders wanting to establish a position on eBay will be looking at the price action for evidence of buying near the 200 day moving average, and opening a position as close as possible to this important level. Also traders will be looking at the latest price action, via the stocks current range previously defined for insights of other key levels that might affect their upside or downside.