ETSY trade ideas
$ETSY with a bullish outlook following its earnings #StocksThe PEAD projected a bullish outlook for $ETSY after a positive over reaction following its earnings release placing the stock in drift B
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ETSY - expectations vs reality. $ETSY - consolidating around the $220 levels with solid momentum. A breakout is possible with the last candle looks like forming a potential dragonfly dogi signaling reversal to the uptrend. The target of $230-$243 with earnings right around the corner. If this doesn't break, then the support is $200.
Looks like: we have our next breakout candidateMACD looks good, RSI looks good, EMA looks good, so why not go in big?!
Well, there is one little thing that is worrying, the overall market.
It is overbought, it doesn't mean it can't go higher, all I am saying that in my opinion we are due to a small correction, before heading higher, so place your bets carefully.
ETSY 6 tests breakdownETSY is now about to test the 192 level of support for the 6th time. Each time a level is tested, supply is being taken out increasing likelihood of a breakout. I'm looking for this to breakdown to the 178 level. There is a zone of support between 167-178, which would be a profit taking zone. A break above the moving averages would trigger an exit, as long as price stays under the moving average resistance the trade is in play.
Etsy new highsEtsy is an American e-commerce website focused on handmade or vintage items and craft supplies. These items fall under a wide range of categories, including jewelry, bags, clothing, home décor and furniture, toys, art, as well as craft supplies and tools. All vintage items must be at least 20 years old.
Etsy long and short termfirstly altough RSI is pretty low and you might think we are in oversold territory, analysis of previous dips has shown they don't stop until both RSI are below 40 and MACD is below 0
it seems like the more bullish channel has been broken retested, unsuccessfully and ETSY will continue in its bigger trend channel. we might see it dip to 167 or just above as a horizontal support and the trend channel meet. it will likely consolidate a bit at this level but i see a bright future for Etsy and think we will see another rally in anticipation of earnings. as ETSY earnings have been beating expectations very well before.
short term however i see bad news, we might jump a bit from current levels to 200 but dip down again. especially since the overall market is still shaking
let me know what u think this is only my 2nd analysis
