eBay slips in negative zone - Analysis - 13-08-2018

eBay's stock fell 0.18% in the last session, or 0.06 points, while the Relative Strength Index reached extremely overbought levels compared to the stock's movements, with negative pressure from the 50-day SMA, while the stock settles below the resistance of 34.65, representing the ratio 50% of Fibonacci retracement levels for an ascending wave in the medium term (from 22.30 to 46.99). 

Therefore we expect more losses for the stock, as long as it settles below 34.65, targeting the next support at 31.73, which represents the ratio 61.8% of the same retracement levels mentioned earlier.