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eBay(EBAY - Get Report) is a global commerce platform. This stock is trading up 4.5% at $42.53 in recent trading.
Today's Volume: 14.2 million
Average Volume: 12.8 million
Volume % Change: 66%.
Shares of EBAY are ripping higher today after KBW initiated coverage on the stock with an outperform rating and a $50 price target, citing the company's leadership position in e-commerce and industry growth should boost earnings and sales.
From a technical perspective, EBAY is moving sharply higher here on above average volume, and the stock has started to enter major
breakout territory. That move has started now that EBAY has taken out some near-term overhead resistance at $41.72 to $41.96 with high-volume.
Traders should continue to look for long-biased trades as long as EBAY is trending above those levels with strong upside volume flows. I would consider any upside volume day that registers near or above 12.8 million shares as bullish. If we continue to see that action, then EBAY should easily hit $45 or higher in the near future.
eBay shows up on a recent list of
10 New Stocks on All-Star Fund Mangers' List.