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ETSY finished a wave correction last week and initiated a new wave extension. It signaled gathering steam with a pennant in wave 1. Short term target is the previous high around 136. Longer term if markets hold up, we could be looking at 155.45. Our stop's right below the pennant at 127.
ETSY had a mini correction after earnings recently. It has started to move up on a double pennant. Quite unusual to see but as I've drawn and labeled. ETSY formed the first pennant on the 6th and the second on the 7th as a result of market dip. As a result, I'm expecting a bullish move up which actually started at 2 EST and could continue into Monday, 8/10.
Right now, I'm still guessing an overall long position at ETSY, but think it will continue having some more resistance until reaching the $125 price point prior to retesting. That being said, I think by November, this stock can easily reach $150 for a long PT target. The correlations seem to point to positive support levels overtime. As always, please do your own...
Etsy has been in a very nice rising wedge from the March lows. As it reaches the top range of this wedge, it should be a good shorting opportunity. I expect it to fall from its wedge. The eventual target is the origin of the lower channel, or about $30. We also have good bearish divergence on the RSI, on the daily:
Clear uptrend corridor with Support and Resistance confirmed multiple times over the past 4 months. Ascending Triangle formed. Short term swing trade that I would close before earnings on 5th August. - Historical uptrend - RSI + Stoch well above 50 - MACD above Signal. Suggested Entry $117.68 Suggested Stop Loss $114.47 Target price $130
Seems like a good play, respecting that trend line perfectly so far.
EARNINGS: There's a bunch, but here are the ones that interest me most for volatility contraction plays: BYND (46/87/17.2%)*, announcing Tuesday after market close. ROKU (40/84/16.6%), announcing Wednesday after market close. SQ (40/74/13.4%), announcing Wednesday after market close. ETSY (38/74/14.8%), announcing Wednesday after market close. UBER...
$ETSY Ascending Triangle - Near Term Breakout Candidate Strong close today above resistance. Expecting follow through move tomorrow. Near term target - $100-$105 range Note: Not investment advice.
Have a great day
Have a great day
First 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...
First off, please don't take anything I say seriously as this is opinion basis. That being said, let us get into my insight. I believe due to the Coronavirus, likely online shopping and e-commerce have seen a spike in activity. This is due to people shopping online more. Not just e-commerce went up, but so did remote collaboration and other sectors as well....
Break 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,...
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