ETSY has been consolidating within a standard box pattern for the past several weeks, and has broken out of its initial trend line resistance, ready to test the upper region of the box at 73.50-74. Whether or not it breaks from there remains to be seen, but a test of 74 would yield 3+ points per share. Not a bad return.
Investors love it, analysts love it, sellers love it and customer love they unique products and approach. Etsy is not trying to, or ever will try to, compete with Amazon, thats what probably makes it such a great company with great ethics and products. They emphasis is on quality of product and providing a marketplace for unique products at reasonable prices, fair...
Morning brief helps me review my though process. Don't trade without knowing the risk. Counter trend trading is very risky. I don't do stops, I manage the risk which took me years to master.
Following the pattern definition, we should see momentum continue (+ $15-$20) after the pattern completes. With only 30 days till ER, this price looks to be a nice entry.
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ETSY is quite the opposite of Amazon, it prides its self on the craft industry and unique products from small producers. Sustainable small cottage industry manufacturers can have a global shopfront, which is not driven by price and discounts. Etsy has plenty of room to grow by ethical means. We await a breakout about from current formation to confirm a buy with a...
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ETSY
