EBAY Range Bound Ahead Of Q1 Results

'' Ebay Inc,

shares are trading higher by $0.32 at $56.74 in Wednesday's session. The company is due to announce Q1 results. Wall Street analysts are looking for EPS of $0.70 with revenues of $4.42B. The company has beat on EPS by $0.01 in the last quarters, but has missed on the revenue front by $20M in those exact same quarters. Therefore, the Street may be focusing on the latter to determine if the issue can revisit its all time high of $60.93 that was made on March 9. Prior to today's trading, it had in a $55.40 to $56.66 trading trading with a double bottom in place from Friday ($55.40) and Monday ($55.41) lows. Those lows coincide with its April 6 low ($55.45). In today's session, it has breached the upper end of the trading range reaching $56.88 but has not been able to sustain that level. If the company surprises on the upside there may minor resistance at the pari of highs from April 15 ($57.30) and April 16 ($57.39), with additional resistance at its April 23 high ($58.23). If the company disappoints and breaches the $55.40 area, the next identifiable resistance level may be at its pair of lows from February 11 ($54.65) and February 12 ($54.69).