Etsy has an fantastic business model of Anti Amazon and Millenials and GenZ are flocking to it. If you look at their last IR Preso it seems they are dominating in Craft, Reused Fashion, and Reused Furniture market. Resales Market will heat up as Inflationary signals take place. Current pressure Amazon and only Amazon. Currently stock did a correction to 160's and its time to buy a few to get in the game. If stock crosses 180's its bound to be at 209 in Jul 21.
It's a bearish stock and the S&P , the bull market , is exhausted past any further possible upward movement for a few GENERATIONS- so yes. ETSY, GME, AMC, the shittier the better. Penny stocks, gold, oil, FOOD even. all these are the new S&P. Has more to do with the value of the dollar that will occur with the sropping S&P market - it will rise. Therefore anything in debt will too. And then the bullish volume from the S&P and crypto will have nowhere to go but into these "Emergnet markets "P.S you can measure exactly where it will go by doing a simpkle fib reatracement of the last swing low or low to swing high or high and then using the fib extension tool . If it retraced above 0.5 , it will extend to 131.4% - 161.8% over the last high. wHENEVER THERES A fLAT WAVE WITH A HIGHER LOW COMPARED TO THE PREVIOUS LOW - THE NEXT MOVE IS THE FINAL LEG UP ON THE TIME FRAME OF THE TREND
TheBadMrFox
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What is flawed on your idea is the skipping os swing highs and lows on your triangle pattern, and a bearish triangle pattern break only matters if it breaks through the bottom - as would the bullish breakout on the NOV 17th low to May 02 high to may 05th swing lowto june 02 swing hjigh. NOW IF THAT breaks and when - is wheen you want to go long. The fact the MACD histogram is divergent (lower with lower prices) makes me say you don't have enough information yet just based on what youve posted
Alpha3BA
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@TheBadMrFox, Thanks for good critique I will take a look at your comment and update.
TheBadMrFox
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@Alpha3BA, its not that your idea is incorrect- just a small thing.