Swing Trade Idea – (EBAY) – September 02, 2020
Our bullish trade for Wednesday, September 2nd is EBAY (eBay Inc). EBAY is part of the Consumer Discretionary Sector (XLY). XLY has experienced a 10.94% gain in the last month and its 1M and trend turned bullish on July 1st.
EBAY’s 1M trend turned bearish on August 27th as price has pulled back to an ideal buying zone. With a technical score of 9 (out of 10), EBAY is a very strong stock that will likely move higher.
As a stop loss, if EBAY were to trade below $52.00 for multiple days, this would invalidate our analysis and we would focus on cutting losses on the trade. We would also consider cutting losses on this options trade if the value of the vertical spread moves above $1.76.
