Annual forecast for eBay (2021)

PUBLISHED: Mar 01 2021 @ 05:44 | Comments (0) | More info about Azeez Mustapha

EBay shares (NASDAQ:EBAY) have been plummeting in this month, thus erasing the recent bullish gains that were made, especially from November 2020 to January 2021. Further short selling is anticipated this year.

ADX period 14, is somewhere around the level 30, meaning that momentum remains strong in the market. DM- is almost crossing DM+ to the downside, and that will eventually be done, for the bearish pressure is currently strong.

The MACD default parameters, already has its histogram below the zero line, and the signal lines are sloping downwards, as they are expected to cross the zero line to the downside.

When the 2 conditions of the ADX and MACD are fully met (and they hopefully will), it would result in a Bearish Confirmation Pattern in the chart, which will make the market fall further downwards. The outlook on EBAY is bearish for the year 2021, and price may test the support levels at 50.00, 45.00 and 40.00.

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