Ebay has been trading flat since late 2012. We have seen weeks price move much more easily in declines and then struggle to regain that ground. Volume has also peaked on these declines showing more conviction on the downside. This is opposed to the previous flat trading period from late 2011 to mid 2012 which saw more volume on positive weeks. In the current distributive pattern, we can even see that the selling is hitting the market at lower and lower prices as institutions are increasingly eager to get out.