Hi Debra:
< John, check out the bearish divergence in EBAY. Also, a possible evening star
formation, depending on today's action. >
I am just beginning to try to understand all this stuff, so please bear with me..... So what you are saying is that because the 12-day EMA is rising faster than the 26-day EMA, the stock is in for a short-term correction? If so, by how much, would you expect?
I would imagine, that given the relentless upsurge in the stock price, that one could not predict anything negative for the intermediate term for the stock based on TA at this point?
Debra, thank you so much for this post. I have been searching and searching for its type of post on SI for months. Hard-core real-time TA on an individual internet stock!
Here's my FA take on EBAY: First lockup shares are released 1/23. Should at least double the current float of 3.5M. Auction counts are down from a high of 1.2M to 900K this week, the first such drop since records have been monitored by Doug Fowler, founder of the SI ebay thread. Company is saying that this is typical pre-Xmas behavior - folks spending more time with families and less online???? 4Q revenue growth should be excellent, however, company warned when reporting 3Q earnings that increased marketing and ad expenses could impact earnings in future quarters. I had been seriously considering selling sometime before 1/23. Now you are saying that week of 1/4/99 might prove to be that time?
Thanks again!
Rob
ps. in at 45, out at 205, in at 177 and still holding..... |
