Wednesday, March 01, 2006

EBAY - Poised for a Break?

Click on chart for larger view.

From the 15 minute chart of EBAY we can see that a break of the ascending triangle is imminent. Which way will it break? The daily chart leads us to believe it will break to the upside on a higher low. Conversely, the oscillators are pointing down. I'm prepared to play it either way. Support at $39.00 followed closely by $38.00. Resistance is just above at $40.66 and then $42.00.


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