$ETSYEtsy’s shares rose last Thursday as the online arts-and-crafts retailer joined fellow Internet retailers in a continuing roller-coaster ride.
Etsy recently traded at $213.12, up 5.4%, and has climbed about 9% in the past six months with plenty of ups and downs.
Earlier this month, they reported better-than-expected second-quarter earnings, but provided a third-quarter revenue forecast that fell short of analysts estimates.
Etsy posted profit and revenue that handily beat Wall Street estimates, but said it now expects revenue of between $500 million and $525 million for the current quarter, below current consensus forecasts of $527.5 million.
When we look at the technicals analysis ETSY is starting to look very bullish, in my opinion.
We broke out clean of the symmetrical triangle to the upside.
We have the MACD above 4.90
We saw the 50MA cross the 200MA
& we also have the RSI above 50.
I can easily see this running up to all time highs again. I’m bullish.
Keep this on your watchlist.
- Factor Four
