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CFDs and spread bets are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs and spread bets with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Asset Watch
Tuesday, August 9, 2022, 12:50pm GMT
Source: TradingView
eBay’s 50-day moving average stands at $45.23, which is 4.3% below the Aug. 5 close of $47.28. The key level is also near the November 2020 lows and the June 2022 highs. Therefore, a pullback to this area could provide a tactical buying opportunity.
A subsequent bounce could also help fuel a rally back to $49.72. This level is near the November 2020 highs, the December 2020 lows, the February and March 2022 lows, as well as the May, June and August 2022 highs. Meaning the $50 area has elicited several reversals over the last two years.
As a result, the bulls and the bears have drawn the battle lines between roughly $45.23 and $49.72. However, with risk-on sentiment dominating the financial markets in recent weeks, is the latter more likely than the former?
Sources:
eBay earnings call transcript:
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CFDs and Spreadbets are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of Retail investor accounts lose money when trading CFDs and Spread Bets with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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