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Considering the stock's long-term downtrend, investors remain relatively skeptical of the shares.
However, the equity remains locked in a long-term downtrend that began in January 2007.
The weekly chart shows how copper broke above its long-term downtrend line.
The equity has been in a long-term downtrend, ushered lower by its declining 10-week moving average.
Even though the dollar has experienced a respectable rally since late last November, its bounce has not changed the long-term downtrend.
However, the stock is still locked in a long-term downtrend, having declined under resistance at its 10-week and 20-week moving averages since January 2008.
According to Byran Sadoff, the firm seeks out industries where stocks have been in a long-term downtrend, lasting five to 20 years.
This configuration leaves ample room for additional downgrades that could send EBAY on the next leg of its long-term downtrend.
The stock has been in a long-term downtrend, falling under resistance at its 10- and 20-month moving averages since July 2004.
If you look at the ratio of the Russell 2000 and the S&P 500 index, it has reversed a long-term downtrend channel.
That said, if the bears continue to add to their winning positions, the additional selling pressure should help extend AGP's long-term downtrend.
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