Not going to give too much commentary here.
The setup at the support zone is pretty clear.
Previous earnings came in well above estimates.
I like this setup, if you choose to act on it, Trade Safe! 👻
Certainly, let's expand on the details.
Over the last six quarters, Etsy has shown an upward trend in both Earnings Per Share (EPS) and Revenue. In Q2 2023, Etsy's EPS was $0.83, surpassing the estimated $0.41 by a significant margin. Revenue has also been growing consistently, although at a slower pace compared to EPS. In the same quarter, Gross Merchandise...
On May 30th, I posted that NASDAQ:ETSY could reach the $74-$70 area. The target was hit last week.
I am tempted to take a starter position here.
The current support of $70 is critical. Otherwise, it could fall further to $60.
We broke beneath the long-term support line a few weeks ago (barely), and for the first time ever for the stock, our key MAs have crossed bearish on the monthly. That's 2 strikes against this one... Next key support is $30-$40 range, meaning another 50% down from here.
The 15 minutes chart sees a Bullish Alert and Bullish crossover.
There is a gap left open at $95.5
We need here a positive price action to be built with the next candles.
Etsy forming a clean W shape double bottom. Although it has potential to the downside, with the current bulls only market environment, upside is more likely. Playing this with a tight stop. High Risk trade.
Etsy, Inc. is an American e-commerce company focused on handmade or vintage items and craft supplies. These items fall under a wide range of categories, including jewelry, bags, clothing, home décor and furniture, toys, art, as well as craft supplies and tools. Items described as vintage must be at least 20 years old.
During the bullish run of 2020-2021, Etsy Inc. ( NASDAQ:ETSY ) emerged as a notable name in the US financial markets. However, the stock experienced some turbulence in recent times. In my opinion, Etsy is poised for a comeback this year, presenting a compelling short to medium-term trade opportunity.
A Bullish W Pattern Emerging
One of the key indicators...
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...
It is worth waiting a little before putting your money in NASDAQ:ETSY . I am bearish on NASDAQ and it could pull down ETSY with itself.
(You can check my comments on NASDAQ in my profile.)
However, if you are a long-term investor with diamond hands, here looks like another good buy zone in the long term if you can bear a ~15% drop.
I am on the waiting side.
A broadening wedge or megaphone is present but it has a long way to reach the top of it. Its not impossible though, as shown with the bars pattern tool in green.
I expect a W like reversal at the bottom trend line and recovery up within the megaphone.
Daily chart.
Etsy, the popular online marketplace, has recently shown promising technical indicators that could lead to a significant upside move. A bullish MA crossover and the formation of a potential broadening pattern have caught my attention.
Etsy's price chart reveals a bullish MA cross, with the shorter-term MA surpassing the longer-term MA. This suggests a potential...
MACD showing signs of reversal to negative
RSI at 56 - nothing to note here
Inverse head and shoulders looks to be forming. Could be good to get in around $90.
Looking at selling the $90 PUT
Great bullish alert on NASDAQ:ETSY on the daily chart.
Price action is not yet positive and over the long term it doesn't look good.
Lower time frames are already showing a full combo.
NASDAQ:ETSY Looking like it can get to $74 - $70 area which could be interesting area to play the bounce. $70 area had previously provided support. Watching for now.
Etsy is at the early stages of a failed breakdown and is showing bullish divergence. A close above $98.11 will confirm this and will mark a great entry. Given the low cost of option calls for next month I entered a few $120 strike for $0.15. Looking forward to this trade. Low risk, high reward.
