EBAY: Can Its Price Go Down Ahead of Recessionary Signs?
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EBAY is showing that its Cycle degree of trend is completing wave 3. Since its an actionary wave, it has five subwaves as shown by the white EW. Blue wave 4 is likely next and is likely to retrace 38% of the rise. Also, wave 4 can't overlap with wave 1; this is why wave 4s don't usually retrace so deeply.
When less and less people buy form ebay or post items for sale, what could it mean? Perhaps economic slow down will dampen the transaction volume for EBAY? Could this coming blue wave 4 be the harbinger of a global slow down? The blue wave 4 is labeled as an ABC but can often take a triangle pattern. The subwaves of white circled wave 5 are shown in purple and seems complete. The red A wave could already be underway or complete and so a B bounce would make sense. With so many charts showing similar toppiness....would you be an active buyer with open arms or take caution?
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