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EBAY About To Go On Sale

eBay Inc. (NASAQ:EBAY) — This online auctioneer is a global commercial platform that owns PayPal, Bill Me Later, Gmarket, GSI Commerce, Shopping .com and StubHub.

The company’s Q4 2011 earnings were considerably above analysts’ estimates. Currently,11 Wall Street analysts have a “strong buy” on the stock, nine are a “buy,” and 13 are a “hold.” There is one “underperform.”

On Feb. 23, the stock confirmed a major breakout through a compound top that has taken a full year to form, and the Trade of the Day recommended the stock on Feb. 24 at $36.

Heavy accumulation in the past month helped it flash a “golden cross,” a long-term buy signal, and the breakout has a trading target of $41. But it is unlikely that its sharp angle of advance can continue without a consolidation. Buy EBAY under $35 with a target of $43.

Trade of the Day – eBay Inc. (NASAQ:EBAY)
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Trade of the Day Chart Key

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