ETSY at a Fork

Jan 22

Coming to the point of the declining triangle, either will break out, target $55, the T2 $57
or break down, support target $50, then $47.
Leaning bullish and expecting it to break out in my subjective opinion.
Looking for a Long Entry of $52.00

Feb 7

Trade active

Current price Today will likely close on or at the VWAP from the previously made high. Above this $55 level is bullish, below, bearish. I am still holding my long position at this time.

Feb 7

Note

$54.50*

Feb 12

Note

ETSY broke down under the VWAP at 54.50. I kept my long position but sold $57C on my position to capture the volatilty in premium before earnings. $52 is still a long entry level in my subjective opinion. It bounced very decisively there this morning after open. Again, the overall market could bring this trade down if it turns bearish. I would close under $52