EBay is coming to the downside after the latest earnings report that was released at the end of October, and you can see that so far we still have a very big gap open near the highs, while the market is coming down in three waves which can still represent wave four.
Interestingly, eBay (NASDAQ: EBAY) could try to fill the gap from earnings released back in July 2025, and we know that usually when those gaps are filled the market can reverse.
So there is a chance that we will see another turning point to the upside, especially while the market trades above the invalidation level at 68.36.
Also, looking at the big picture, we still see an ongoing uptrend and now possibly price is coming into that support area around 80 dollars, which is also a high back from October 2021. So apparently the stock is coming into a very attractive zone for a potential rebound.
Highlights
Three-wave drop still fits a wave four idea
Gap from July 2025 earnings could be filled soon
First support zone around 80 dollars (October 2021 high)
Invalidation at 68.36
Structure still bullish on higher time frames, so rebound chances stay in play. For more analysis visit us at wavetraders.com and check for Black Friday discounts
Twitter: @GregaHorvatFX
The author may have a position in the mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
