Hi guys! This is a technical analysis on Etsy (ETSY) on the 3 Day timeframe, supporting a potential Support Bounce Play.
We've come a long way from our recent Rejection off the "Major Resistance" Red Trendline.
Moving below the 21 EMA (Purple line)
Breaking Below our previous Support Trend line Turned Resistance Line (Black Horizontal line)
To now come in...
Etsy, Inc. (ETSY) pushed above the 1D MA50 (blue trend-line) today and is headed for the top (Lower Highs trend-line) of the 4 month Channel Down. That is the short-term pattern within the 1 year Triangle formation, and since yesterday was a Higher Low on its bottom, if the Channel Down breaks, we expect a strong bullish reversal.
In fact the same Double Bottom...
