(Reuters) - Shares of e-commerce platform eBay Inc surged nearly 11 percent on Thursday after it reported strong results and launched a new partnership to take more control of payments on its sites from long-term partner PayPal Holdings Inc. Little-known Dutch firm Adyen will become eBay's primary payments processor under the scheme, which seeks to see more transactions conducted directly on eBay's sites. Analysts said that might bring in more revenue for eBay while lowering costs, adding to optimism from a strong holiday quarter for the company.
eBay has also announced plans to partner with Netherlands-based Adyen to simplify the end-to-end payment process on its Marketplace platform with primary goals of lower costs for sellers (charging a single fee for marketplace and payment services) while offering buyers a streamlined process across a wider range of payment options. This and other marketplace enhancements could make eBay more attractive for vendors looking to diversify beyond Amazon.
eBay is moving in an uptrend. The blue line Kijun has just emerged above the cloud and formally this is a trend. Stochastic dropped from the overbought zone, but the price did not fall. There may be a slight downward correction, then eBay will continue to move upwards. A correction may not be. I advise you to buy. Weekly
Bought EBAY like 5 minutes ago. Its going to reverse next few days and break out of this head and shoulders Downtrend.
I'm down $10 bucks cheap here. Market dipped a bit last hour of trading. Time to get in cheap. Bullish buy!
