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.
Tactic: Invest at first profitable quarter and hold.
Case study: ETSY pre-covid chart. Post covid high of like $300 is too silly to show.
Note:
#1. Apr'15. IPO madness of $32 died down to $8 after about 6 months.
#2. Mar'16First profitable quarter at $8, then profitability backslid but that was the new price low. If buying and holding at point #2 until point #4,...
Earnings 5-3-23 AMC.
Cypher noted for now unless the 4th leg goes much further to the downside. The 4th leg is dashed as I am not sure it is complete.
Peak 2 is higher than peak 1. Leg 2 completed at the .618 of the first leg up. It is an M pattern.
This is not a long entry level although there was a attempt, but an throwback sent this back to support.
Etsy...
Yellow count is primary with blue just behind... white has almost left the building but is still holding passes for divergences to arise. Daily bearish engulfing spells trouble and if a new low is found... don't fight the trend. GLTA!
We have a double top within another double top. This is very bearish, if price bounces off the weak support to test the resistance again I would add to my short position.
$ETSY really setting up here and can fly.
I think $SPY can hit 410 before cooling and in that move $ESTY can move a bit harder and hit a nice price.
Good luck
Looking to take up a swing position into ETSY. I dont know that this price target will be fully met. it is a fib retracement level that was left hanging, and it appears a leg up could be in order. Assuming we dont lose support as it sits at a key level and also at near the 200EMA.
This market can be dizzy and confusing, but candles can light the way. ETSY has been on a rollercoaster of a ride as of late, but over the past few days, it has begun to change its normal mode of transportation. I'm not suggesting it will board a rocket ship any time soon, maybe never, but it does seem to have gathered up enough scratch over the past few months to...
Sometimes we get distracted by shiny objects along the way; ETSY has definitely been privy to recently falling astray. If it is to find some legs to get long, then something like this might help guide a careful observer along. GLTA!
Likely ETSY is working on a B wave up into the natural area of a B wave (50% retracement of the move down). If so, then the 5 waves down should be accompanied by another 5 waves down (yellow line). The magnitude will likely not be the same as this A wave down (labeled (1-5)), but I expect the duration to be similar. Invalidation would take a lot, but most logical...
Current market cap = 14.889b
FY 22 sales = $2.57b
Price to Sales ratio = 5.80
Etsy has been accused by citron research of selling counterfeit products look at the below tweet for their reasoning twitter.com
Now here are the 3 big questions to be answered
1. Will ETSY face legal problems in removing all counterfeit products?
2. What % of their 2.57b revenue...
