$etsy cup and handle study

155 8 6
someone asked me to take a look at $etsy . i hold very few stocks and generally dont trade retail stocks and may not actually take this trade

9 month accumulation in demand area.and break out

  • Nasdaq made lifetime highs today
  • etsy             has a suprise earning where the made more then expect per share -.03 vs -.06
  • 3d stoch is high , try to cross down.
  • about 80 cents from supply area.

nasdaq as an index remains bullish , causing etsy             to rise through demand area.

possible recommendations
sell ~15.2 , if earning suprise shock wheres off and nasdaq doesn remain bull
buy ~12.5 if measured pullback happens and index doesnt look to have bearish moment

Comment: the handle is forming here quite nicely
Comment: still on track. nasdaq is tanking today due to $AAPL sell off.
Comment: first target hit
to close this chart i exited 15.9 negative earnings rumors.
also, it's interesting this is forming at the bottom of the trend. as you know, C+H is usually a bullish continuation, not a bullish reversal. perhaps the youth of the stock plays a part in this. looks like an alt coin pre-mine dump at IPO.
IamNomad IAmSatoshi
that exactly it.. IPO like ICOs in altcoins start at a stupid high list price.. price discovery occurs. Usually you end with something way lower then the initial list price. i think 9/23 was around the last flash crash so its very possible that was "supposed" to be the bullish move (leading into the C & H(
current status about 1.5 dollars from first projection. nasdaq closed at all time highs today
i forgot etsy was even public. i think amazon will eat their lunch, so the fundamentals on this playing out might be poor.
IAmSatoshi IAmSatoshi
IAmSatoshi IAmSatoshi
overbought but in a def bull trend on cloud
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