Is $EBAY Completing a Bearish Head and Shoulders Top?
Is
EBAY
Completing a Bearish Head and Shoulders Top?
The monthly chart is pretty close to completing the right shoulder in what looks to be a bearish Head and Shoulders formation.
Measuring from the top of the head down to the neck line would put the price target down to $3.00 and change.
It will be interesting to continue to watch what the 14 RSI does as it approaches 50, which is usually a resistance point in downtrends.
Hard to say if it will go that low, or if the right shoulder will even complete the bear flag it is in the middle of right now.
EBAY
Completing a Bearish Head and Shoulders Top? The monthly chart is pretty close to completing the right shoulder in what looks to be a bearish Head and Shoulders formation.
Measuring from the top of the head down to the neck line would put the price target down to $3.00 and change.
It will be interesting to continue to watch what the 14 RSI does as it approaches 50, which is usually a resistance point in downtrends.
Hard to say if it will go that low, or if the right shoulder will even complete the bear flag it is in the middle of right now.