NEW YORK (TheStreet) -- eBay (EBAY) shares are down 0.63% to $61.61 in trading on Wednesday although the online commerce marketplace is the subject of today's Trifecta Stocks 'Chart of the Day' analysis.
The company recently made comments about its planned expansion into Latin America as it sees the region as an untapped market.
"Early on, we set on Latin America given its economics and demographics. It's a rising middle class, which gives rise to more purchase power so that's an interesting consumer base for us," said Sylvie De Wever, senior director of geographic expansion and eBay Latin America.
TheStreet has further coverage of the company's expansion plans here.
Insight from TheStreet's Research Team:
EBay is one of those dinosaur survivors from the dotcom era, thriving and surviving through some turbulent times.
Today we have more competition for online e-commerce companies from the likes of Amazon (AMZN), Alibaba (BABA), and even Facebook (FB), Apple (AAPL) and Google (GOOGL). Apple, Facebook and Google are all holdings in Jim Cramer's Charitable trust, Action Alerts PLUS, and Amazon is a holding of TheStreet's Growth Seeker portfolio, which is managed by Bryan Ashenberg.
Despite the competition, eBay continues to revitalize itself and dominate its space. In addition, its PayPal unit is considered the gem, where many expect eBay to spin off the company soon to shareholders.
From a chart perspective, the Relative Strength is quite notable. We like stocks that outperform the market and their peers. Recently the stock powered through tough resistance in the $60 area on some very impressive volume.
On Monday, June 1, the stock accelerated with some strong turnover, breaking levels not seen in years. We expect to see this trend continue as the stock makes its way toward $70. See more analysis on eBay in this video.
DISCLOSURE: Trifecta Stocks has no position in EBAY. This Alert is a technical analysis of the company's chart, and we are not taking any action at this time.
- Bryan Ashenberg and Bob Lang, "Chart of the Week: EBAY," originally published 6/3/15 on TrifectaStocks.com
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