EBAY released its Q1 earnings report after the 4/19 session. The reaction during the 4/20 session was bearish. First let's take a look at the bottom line.According to Techcrunch, "The company posted an adjusted 49 cents per share, when Wall Street was forecasting 48 cents. EBay reported revenue of $2.2 billion, when analysts were expecting roughly the same at $2.21 billion. This is up 4 percent from last year." (techcrunch.com)Still, Financial Times reminds us that the "adjusted net income figure represented a 2 per cent fall from the same period last year." (ft.com)Traders are definitely cautious after the earnings report. EBAY has risen from a 2016 low at 21.52 to a high of 34.74 last week. Let's take a look at the chart.EBAY Daily Chart(click to enlarge)Failure to Extend:- Even before the earnings report, the market was hesitant about pushing above the 34.40-34.50 area. - Indeed after failing to clear this area a second time, EBAY fell sharply on the back of the earnings report.- It has completed a double top.Prevailing Uptrend:- Now, it doesn't look like the earnings report showed anything troubling. - I believe this is a case where the bulls in this market is exhausted, and the earnings report did not provide fuel.- A period of consolidation can be expected, but we should still respect the prevailing uptrend. Support:- First the 32 area could provide support.- Below that, we can also anticipate support around 30.- If price falls below 28, then this is likely more then a brief period of consolidation. It could be the start of a much longer period of consolidation and choppy price action, or we could be looking at a deep pullback that would have the 24 handle in sight.- For now, we should respect the support at least around 30, especially if we see a bullish divergence between price and the RSI. - As an example, we saw a bullish divergence in November-December 2016 before price continued the prevailing uptrend.