EBAY printed new all-time high today as the stock has thrusted above the previous high of 33.10ish. As of today, we don’t have any known technical-data that tells us EBAY is bearish, it’s bullish, and looks very bullish to me in the long-term. I did, however, decided to close 1/2 of my holding call-positions earlier today @ 33.33 to manage risk and lock in that gain. Psychologically speaking, sometimes the sharp pullback could occur after thrusting to new highs, but it will be just 50/50 guess at this time. I’ve been holding many equities since mid-2016, and this was just one of my positions that I’ve trimmed today.
My next target is at around 37ish before I completely close this out, and looking at my oscillators none of them are overbought at this point. If we do see a sharp pullback to, say, about 31ish, I would buy that dip. For now, I will be holding my remaining 1/2 call-positions to the upside.
— Kay Kim (@2kaykim) November 2, 2016
— Kay Kim (@2kaykim) January 24, 2017