eBay (EBAY) NewsBite - EBAY Covered In Lee Allen Report Today

Thursday, October 02, 2008 10:37 AM EDT

eBay (EBAY) was covered in a Lee Allen Report today and the stock is now at $19.52, down $1.33 (-6.38%) on volume of 4,864,998 shares traded. To see the report, and read Lee's musings on the mortgage crisis, go to http://www.iotogo.com/la100208 . Over the last 52 weeks the stock has ranged from a low of $19.95 to a high of $40.73. eBay stock has been showing support around $19.80 and resistance in the $22.76 range. Technical indicators for the stock are bullish and S&P gives EBAY a positive 5 STARS (out of 5) strong buy ranking. If you are looking for a hedged play on EBAY the stock seems like it could be a candidate for an October out-of-the-money bear-call credit spread above the 22.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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