NASDAQ:ETSY
Ignore that purple line, I didn't see it there when I posted the chart.
Title says it all.
Declining volume,
Bear divs,
Overextended,
Head and shoulders,
Nasdaq stretched overbought for the past few days.
One catalyst and this will drop just like last time. Set your stop loss at new highs, easy play. I'm playing this with ITM puts and my target ...
This company is growing rapidly. Last quarter growth accelerated again. Risks are to the upside even in a tough tape.
1. Great fundamentals, check.
2. Great technicals, check.
3. Unusual bullish trading activity, another check.
This play and the reasoning should be pretty self explanatory, zoomed the chart out so you can see how far back I look before taking a trade. The play is from the Red sell rectangle to the Green support rectangle, and start looking to abort the trade at new highs with high volume and/or any random bullish news. Looks like it's at resistance and almost all the ...
Pattern: Upward trendline resistance, looking for a rejection of that line with continuation. ETSY is also at the top of the bollinger bands on the daily, weekly, and monthly charts. Also, bearish divergence in the moneyflow chart.
Edge: The stock has risen almost 300% in 2018 alone, and we are shorting the rally here looking for a retracement of that gain. We ...
ETSY is a beloved gem for on-line craft shopping around the holidays just a few weeks away and nearing a retest of recent low at 48.17 and headed below 786 Fibonacci Retracement and showing CCI driving lower from current 40.43.
Watching for present.
Went in and retraced my fib chart to extend the trend, and see the next move below $38. Momentum will pick up, then a drop beneath the 200 day (blue line) will continue to $33
1. Long term EMA (50), which supported the market since March 2018 has been broken. Now acting as resistance with latest reaction at 44.60.
2. Bearish wave structure, 5th Impulsive wave expected.
3. RSI is in bearish channel structure, with space for downside.
Conclusion:
Bearish move in the form of a 5th Impulsive wave expected towards 33.50.
ETSY only has 2% of their addressable market, but they think it is a good idea to raise the fee to their vendors? This is a great company with HUGE growth potential. Sadly, their vendor has the option, and is forced, to transition to a competitor (EBAY, AMZN) to save money. Short to $35.00 and buy back at $32.00, if better decisions are made.
ETSY market cap. 4.7B vs AMZN market cap. 856B
ETSY has potential to grow compared to e-commerce retail giant AMZN
Long term idea without predefined stop loss and target profit.
Disclaimer: I do not provide investment advice and I am not a qualified licensed investment advisor.
Horizontal S&R: breaking out of range
Channel S&R: yes, rising up trend.
MA S&R: above both 20 and 50
>200ma: yes
Volume confirmation: vol running up into breakout.
Candle Confirmation: no
Stoch Divergence: no
Reg Trendline > n/a
Short Float: 7%
Risk / Reward: 2:1
Zacks Rank: 3-Hold 3 Style Scores: F Value | C Growth | D Momentum | F VGM Industry ...
Long term (imperfect) Cup and Handle completed, with a (failed?) breakout on the recent earnings.
After an initial substantial pop after hours post earnings release, ETSY lost most of its gains.
Now gently climbing back up over its breakout resistance of 45.
Bought the shares at 42.65 pre-earnings. Held them through the up and the down.
Awaiting a close above 45 ...
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NASDAQ:ETSY
