eBay Is On a Cyclical Downside

The chart of eBay (EBAY) shows that it may have completed the upside of its current price cycle. The two previous cycles, labeled 1 and 2 on the chart, made lower highs and lower lows. If this cycle has topped out, its peak will be lower than top of the last two completed cycles.

Avoid eBay for now.

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Posted December 18, 2006.