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eBay(EBAY - Get Report) is a global commerce platform and payments provider. This stock is trading up 3.9% at $50.08 in recent trading.
Today's Volume: 25.9 million
Average Volume: 11.1 million
Volume % Change: 242%
Shares of EBAY are ripping higher here after the company reported third-quarter profits that beat Wall Street forecasts by a penny on sales gains by its PayPal and Marketplace units.
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From a technical perspective, EBAY is bouncing strongly to the upside here right around its 50-day moving average of $47.76 with monster volume. This move is quickly pushing EBAY within range of triggering a major breakout trade. That trade will hit once EBAY manages to take out some near-term overhead resistance levels at $50.24 to $50.65 with high volume.
Traders should now look for long-biased trades in EBAY as long as its trending above its 50-day, and then once it sustains a move or close above those breakout levels with volume that hits near or above 11.1 million shares. If that breakout triggers soon, then look for EBAY to tag $55 to $60 in the near future. Keep in mind that any move above $50.65 will push EBAY into new 52-week high territory, which would be bullish technical price action.