Published : August 14 2012 at 8:46 ET

eBay (EBAY) gapped up for a third time in a row on yet another strong earnings report three weeks ago, and since then has been working sideways in a tight range. EBAY flashed a buy signal yesterday with a "pocket pivot" buy point that came up off its 20-day moving average and up through its 10-day moving average. This type of action within a tight consolidation following the gap-up of three weeks ago is very constructive and in fact buyable. Ebay's Paypal and core online auction and e-commerce services have continued to grow in recession-stricken Europe and slowing Asia-Pacific. EBAY stuck with its full-year 2012 guidance despite economic weakness in the Eurozone, and investors have responded by moving into this first-mover in the online auction space.

This information is provided by Virtue of Selfish Investing, LLC (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing, LLC. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2016 Virtue of Selfish Investing, LLC. All rights reserved.