AyBe_Invest

ETSY pump on Q3 earnings. My analysis with boxes.

NASDAQ:ETSY   Etsy, Inc
Hi everyone,

Let us take a look at recent NASDAQ:ETSY price development.

  • Huge leap from 234-239 zone to new highs at 283.
  • Hard reject to 240 zone.
  • Climb back to 270.

Taking a look at last 3 weeks volume profile , it is not uniformly distributed.
POC is at 239.
Decent size volume occured in 270-275 zone, BUT mainly on the ask side.

What usually happens next in this situation:

Stock price either slices through the ceiling and squeezes to the absurd highs (like Tesla and Cloudflare )
OR
It diddles in the thin zone of the profile, repairing the structure, before the next big move. Here it's 253-272 zone.

Please like if this helped and comment your ideas.

Trade wisely and good luck!
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Disclaimer!!!
This is not financial advise