ETSY Pullback EntryETSY pullack price rejection at 20 EMA to close at the FIB 1.382 retracement level. Good levels of support to enter include this price and possible pullbacks to $71.16 (1.236 retracement level and previous resistance) and $63.32 (50 EMA and previous high) to average down. Good levels of confluence for entry targets.
Price target 1 at $96.56 and target 2 at $109.22
ETSY trade ideas
ETSY - looking ripe to LongETSY pulled back to the 50% fib retracement at 75 with bullish divergence on the 4hrly stochastic. Long @ 75 with initial stop a few ticks below 73. Looking to scale out partially at 88.
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
ETSY Inc (ETSY - US) - Impulse patternETSY Inc (ETSY - US) is in impulse pattern from last swing low as shown in chart. It is all time high stock. A small new high of the impulse sequence as 5th wave of 5th wave major is due to complete the impulse. After it need to correct it up to at least wave 4 territory.
Short Target for Etsy at $70First off, please don't take anything I say seriously. As always, this is on opinion basis, and not financial advice. That being said, let me get into a few key points I want to make. Right now Etsy seems bullish and many analyst are giving it buy and hold ratings. I believe for a quick profit turn over with mitigated risk for day traders, a $70 short target should be quite reasonable as your next move.
Break above $62.6 and back tested, possible break out furtherBreak above $62.6 last week after 2 inside daily candles. and back tested level, possible break out further to all time highs $73. Online companies have been on fire, like SHOP and Wayfair. Earnings May 6, but this has run quite a bit. May options interest $70 calls with 1295, June $65 calls with over 6000 OI and $75 calls over 2200 OI. There isnt a chart pattern, maybe a small cup and handle. Good Luck!
ETSY rally incoming?ETSY is a great company, a nice platform for D.I.Y.ers and home creators, buyers and sellers. I have spotted some similarities in the price action with current price action and action from april of 2017, before it ran up almost 65%. although we are currently in a descending broadening wedge (a bullish pattern) so I would want to watch for a correction before breaking it, which leads me to believe we could be forming a massive inverse head and shoulders which could possibly break up to the 80 dollar area. look out for a break up out of the massive falling wedge, I'm looking for an entry at about 67, exit at 85, that is my plan, it is not financial advise!
ETSY BounceETSY has come into a resistance level at $61.3 range. It is at the moment overextended, meaning it will have to take a breather before it can actually breakout of this level. There is also decreasing volume on its upward movement, showing that it is running out of steam. I think it will pullback to its moving averages around the $56 level
Etsy short squeeze potential,$etsyGiven the market conditions, the afterhours 12% gain is highly significant, but has been halted by the Fibonacci 0.5 level. The company is stay at home benefactor and not as dependent on mass production, so a little more immune to consumers staying indoors.
Short squeeze potential 13.28%
Earnings Surprise
earnings of $0.25 per share, beating Consensus Estimate of $0.17 per share.