EBAY Update…

I’ve been patiently waiting for EBAY to breakout from its 18 month bullish rising wedge. Today it finally broke out with a huge breakout gap. If it backtests the neckline at some point in time around the 41.60 area I will take a position.

The weekly chart puts the bullish rising wedge in perspective.

EBAY built out a massive double H&S bottom that launched its bull market. Big patterns lead to big moves. This stock was born in the 1990’s and was one of the leaders back then. Maybe it will take on a leadership role once again.