EBAY INC.: ANALYSTS EXPECT A POSITIVE REPORT FROM THE COMPANY FOR Q4 2023
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 43.15 |
| Take Profit | 45.50 |
| Stop Loss | 42.00 |
| Key Levels | 38.90, 41.20, 43.10, 45.50 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 41.15 |
| Take Profit | 38.90 |
| Stop Loss | 42.00 |
| Key Levels | 38.90, 41.20, 43.10, 45.50 |
Current trend
Shares of eBay Inc., an American online retailing company, are correcting and are now at 42.00.
Recently, the corporation announced the launch of a description generator for social networks based on artificial intelligence (AI), which automatically adds emoticons, hashtags to the seller's text and edits headlines and keywords in such a way that it is easier for the buyer and search services to find the message. Now this feature is already available in the USA, Great Britain, Germany, and Australia.
The financial report for Q4 and the whole of 2023 will be published on February 21: according to the company's forecasts, revenue for the quarter could range from 2.47 billion dollars to 2.53 billion dollars, which coincides with the opinion of analysts expecting an indicator of 2.51 billion dollars. Earnings per share (EPS), according to eBay Inc., will be in the range of 1.00–1.05 dollars, which corresponds to analysts' forecast of 1.03 dollars. Revenue for the full year 2023 is projected at 10.02–10.08 billion dollars, and EPS will be 4.17–4.22 dollars, which is in line with analysts' expectations for all categories.
Support and resistance
On the D1 chart, the instrument is trading within the local ascending corridor with the borders of 44.00–42.00, gradually approaching the support line.
Technical indicators continue to hold an unstable signal: the range of EMAs fluctuations on the Alligator indicator continues to narrow, and the AO histogram forms new correction bars, being slightly above the transition level.
Support levels: 41.20, 38.90.
Resistance levels: 43.10, 45.50.
Trading tips
In the event of a reversal and continued growth of the asset and price consolidation above the local maximum at 43.10, long positions with the target at 45.50 and stop-loss at 42.00 can be opened. Implementation time: 7 days and more.
In case of a reversal and continued decline of the asset, as well as price consolidation below the support level at the level of 41.20, one may open short positions with the target at 38.90 and stop-loss around 42.00.
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