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Dorothy, Earl and others,
A day or two ago, Dorothy highlighted EBAY as an interesting stock. Earl
posted that it had potential and, without making any recommendations, he
suggested that it be watched for an entry on a retracement to the vicinity
of 56. My assessment of why EBAY is a good short and why 56 is a good entry
follows. I would appreciate comments from Dorothy, Earl or others that
point out factors that I am missing or that I am under/over emphasizing. I
am still learning and it would not be a good idea to trade based on my
analysis.
Good short (as of 10/19)
1. Lower high
2. Broke through 50 and 200 d MA on high volume
3. Gapped down on high volume
Good entry @ about 56 (as of 10/23)
1. 50 and 200 d MA at about 55
2. bottom of gap at about 54.75
3. 38.2 percent retracement at about 56.19
Also, why is 56 a better entry than 60 which is
1. top of gap from 10/18 - 10/19 and
2. 50 percent retracement.
Thank you for your help.
Dan
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