eBay (EBAY) fell 3.49% Wednesday to close at $102.31 as the stock’s technical picture continued to weaken. Shares have broken below the 8-, 21- and 55-day EMAs, while the short-term averages have turned lower. Momentum is also deteriorating: the PPO has moved further below its signal line with an expanding negative histogram, and the Directional Indicators show sellers firmly in control, with -DI at 34.50 compared with +DI at 19.01.

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Relative strength versus the S&P 500 has also weakened noticeably. EBAY is now testing an important support area near $101–$102; a decisive break below that level could open the door toward the $98 area, where the rising 200-day EMA provides another significant support zone. Traders considering a bearish strategy may want to watch for confirmation of a breakdown below current support, while a rebound back above the recently broken $106 area would weaken the bearish setup.

Wishing you the best,

Wendy