Diamond TopThere are several ways to estimate targets for this pattern. The white lines show two ways, and there is no way to know for sure when buyers will come back in.
A diamond top is more often than not, a bearish, trend reversal, chart pattern.
A diamond top is formed by two symmetrical triangles, so forming a diamond. It is often a lopsided diamond.
A diamond top has to be preceded by a bullish trend. This pattern marks the exhaustion of the buying current and investor indecision.
Volatility and oscillations increase in the first half of the pattern (i.e. in the symmetric broadening wedge pattern); then decrease in the second half of the pattern (i.e. in the symmetric triangle).
A diamond top’s price objective is calculated by plotting the minimum height of the diamond at the exit point. Some would treat it as an ugly top and find the neckline.
Sometimes the exit movement is as fast as the upward movement that preceded it.
No recommendation.
I am not sure what earnings were exactly, but I am not sure ETSY ever had a chance right now in the current market conditions. )o:
Price is below the lower bollinger band with the moving average set on 80 verses 20.