Shares of eBay Inc., an American online retail company, are correcting at 61.00.

On the daily chart, the price is forming a positive trend, trying to stay above the support line of the ascending channel 68.00–56.00.

On the four-hour chart, the decline, which began after the price gap of 62.54–57.13 was covered, is aimed at a full exit of the quotes from the long-term range. After consolidation below the support level of 60.00, the target of 57.00 is relevant. In the case of holding the support line, a reversal and growth with the renewal of the year’s highs of 67.00 are expected.

Technical indicators are strengthening the sell signal: fast EMAs on the Alligator indicator are below the signal line, and the AO histogram is forming downward bars in the sell zone.

Trading tips

Short positions may be opened after the price consolidates below 60.20, with the target at 56.00. Stop loss is slightly above 62.00. Implementation period: 7 days or more.

Long positions may be opened after the price grows and consolidates above 62.60, with the target at 67.20 and stop loss 60.00.