EEETSY INC CEDEAR EA 16 REP 1 COM(USD)
3.690USDD
−0.160−4.16%
At close at Jun 12, 19:18 GMT
USD
No trades
ETSYD trade ideas
ETSY - Nearing Supports!With confluence of supports (trendline, horizontal and fibonacci retracement) between 114-115 and a bullish divergence forming. it looks ripe to long for a rebound soon with initial stop @ 13.80. If trade goes our way I would trail stops up and look to scale out around 140, 148 and 156
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
ETSY (waiting for a reversal) Appears that its on a down cycle (rotating down with a few other similar stocks)
I am waiting for it to reach closer to its support $115 mark.
I am also watching to see the MACD cross back over to the upside and RSI to start picking up momentum. Todays activity shows a morning doji on the daily chart which may signal a reversla that can be confirmed tommorow. If that is the case, I will not enter trade. Waiting for more bullish signs and for it to reach a bottom in its present channel.
Etsy Will Soon Be A Good Shorting OpportunityEtsy has been in a very nice rising wedge from the March lows. As it reaches the top range of this wedge, it should be a good shorting opportunity. I expect it to fall from its wedge. The eventual target is the origin of the lower channel, or about $30.
We also have good bearish divergence on the RSI, on the daily:
Etsy Has Deepest Pullback Since its Rally BeganE-commerce has grown dramatically in the era of coronavirus, as most traders know. A lot of the attention has obviously focused on the big names like Amazon.com, but smaller player Etsy has risen even more.
ETSY crushed forecasts the last time it reported on August 5, with revenue more than doubling from the previous year. The stock ran into the news and then drifted lower. It’s now approaching some interesting levels.
First, ETSY’s low today of $116.63 is slightly above its early-July peak. Second, it’s barely $1 above the 50-day simple moving average. That’s the closest it’s gotten to the 50-day SMA since early April. The shares are also oversold based on stochastics.
Given the short-term weakness, traders may wait a little longer before doing much with ETSY. There could also be opportunities nearer $110 if there’s one final push to the downside.
Still, ETSY’s been a very strong name in an important corner of the market. It may be time to start watching it around these levels.
ETSY holding multiple supportThe are multiple technicals showing support at the current level.
1. 50sma hasn't been broken since early april. (orange trend-line)
2. has seen reversals at the lower end of the trend (blue line)
3. we are above, and holding the previous resistance from early July (red-dotted-horizontal-line)
4. Drawing a Fibonacci retracement from: All-time-high to 100sma, we are about to touch the 38.2% fibonacci retracement level.
$ETSY Potential Reversal Levels
Potential reversal opportunity on a bounce off
the rising trendline & also the .5 Fibonacci level,
this was also in confluence with a gap fill.
Be aware of the possibility that $113 remains as lower reversal target in confluence with the 50MA
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The next few days will be interesting You have to put ETSY on your watchlist for the next few days if you haven't already.
We are currently trading at a really strong support level if it bounces back, then there is great upside potential (~20%) with a price target: 142.55
In the other case: short it, but first, wait for confirmation. The price target is 99.81
I am not coming from the future nor am I fortune-teller, so I have no idea what is gonna happen.
All I can do for you is: collect the signals for the upside/ downside.
Upside:
>strong support level
>Uptrending since Mar.
> EMA 20 is above EMA 50
Downside:
>Elliott Impulse Wave completed
>Stock is tanking while S&P and other indexes are skyrocketing.
If you like my analysis, feel free to like my Idea and follow my account
ATTENTION - ETSY with a monthy reversalATTENTION ‼️
ETSY with a huge monthly Reversal Candle.
Etsy is a Top Growth Company and its performance of the last month is insane (roughly 300% from March Low). But it might be time for a correction.
--> Bullish Target Zone at 96 USD
--> Bearish Target Zone at 73 USD
iSqore: 7️⃣0️⃣.55
Profit: B
Growth: A-
Value: C-
Health: B-
Etsy Inc (NASDAQ:ETSY) Explodes On Covid19 Triggered OpportunityThe Market Signal was created as a platform to help investors, if you own (NASDAQ:ETSY) and want to join the fastest growing community of investors on the web then sign up to the link below. Members get free access to the best investment tools in the world. Start trading like a pro today. This is a limited time offer so click the link below NOW.
themarketsignal.com
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Etsy Inc. (NASDAQ: ETSY) shares have been trading higher ever since the stock bottomed, in the aftermath of the COVID-19-triggered market crash in March. The stock is already up by more than 150% in what is turning out to be a break out year, for the online market place for buyers and sellers.
Etsy Outlook
The meteoric rise does not come as a surprise as the pandemic has presented a perfect business opportunity for e-commerce platforms. A change in consumer shopping patterns from brick and mortar stores to online has seen the likes of ETSY enjoy a surge in online traffic, leading to an increase in sales. A better than expected second-quarter report coupled by impressive third-quarter guidance is the latest development strengthening Etsy sentiments in the market.
The stock has already hit a buy zone with pullbacks emerging as buy opportunities from where bulls have come and continued to push the stock higher. As it stands, ETSY is trading in a steep uptrend and looking extremely bullish. The stock remains well supported for further upside action above the $120 level.
Resistance, on the other hand, is seen at $141. A rally followed by a close above the resistance level should pave the way for Etsy to continue powering high. Similarly, a breach of the $121 support level could pave the way for bears to push the stock back to the $100 level, which happens to be the next support level.
About ETSY
Etsy is an e-commerce company that operates online marketplaces for buyers and sellers. The company offers over 66 million items spread across various retail categories. In addition, it offers seller services such as Etsy payments and advertising platform Etsy Ads.
Why is Etsy Rallying - Online Sales Surge
Etsy has taken the market by storm in recent months on investors taking note of a unique business opportunity presented by COVID-19. With the pandemic disrupting the retail landscape, Etsy has seen an influx of traffic into its e-commerce platform as people do their shopping online and have items dropped at their doorstep.
The online store blew second-quarter financial results affirming the perfect business opportunity presented by the pandemic. Q2 profit more than quadrupled to $96.4 million or 75 cents a share against $18 million or 14 cents reported a year earlier. Etsy has a proven track record of earnings growth with a growth rate of 73.6%. EPS is expected to grow by 50% this year, crashing the industry average of -2.3%.
Revenue more than doubled to $429 million from $181 million reported a year ago attributed to an increase in traffic that saw the platform attract more than 18.7 million new buyers.
Double-digit earnings growth attests to a company in a phase of robust growth, backed by solid underlying fundamentals. It also affirms the company’s long term prospects amid a change in consumer shopping patterns to online.
themarketsignal.com
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“Our extremely strong second-quarter results, with consolidated GMS and revenue up 146% and 137% respectively, are a testament to the agility of our team, the strength of our brand, the innovation of our sellers, and the unique and special nature of inventory on our core Etsy marketplace,” said Josh Silverman, Etsy, Inc. Chief Executive Officer.
An impressive second-quarter report affirms the scalability of the Etsy marketplace model. Backed by a highly variable cost structure and disciplined strategy, the company is in for an impressive year when it comes to revenue and earnings growth. This might as well explain the renewed investor interest in the stock as depicted by the stock powering to all-time highs.
Q3 Outlook
Etsy has invested a great deal on its brand and market place, positioning itself to be one of the biggest beneficiaries amid a change from offline to online shopping. With events of the past few months triggering a dramatic shift in consumer shopping habits, Etsy remains bullish about its performance going forward
Likewise, the company expects its third-quarter revenue to increase by between 85% and 115% to between $366 million and $426 million. Adjusted EBITDA margin, on the other hand, is expected at between $111 million and $127 million, representing an increase of between 28% and 32%.
Bottom Line
Etsy is poised for an impressive year going by the developments in the aftermath of COVID-19. A shift in consumer shopping patterns from offline channels to online shopping is a development that continues to fuel the company’s e-commerce craft leading to sales and earnings growth.
The Brooklyn-based firm niche e-commerce platform is growing steadily, having attracted more than 18 million new customers in the second quarter. Better than expected, second-quarter results depicted by revenue and earnings growth explain why the stock has skyrocketed nearly 200%, crushing the likes of Amazon.com, Inc. (NASDAQ: AMZN) and eBay Inc. (NASDAQ: EBAY).
A combination of strong stock performance at the back of favorable technical and improving fundamentals suggests that the stock could continue rallying after the recent spike.
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ETSY has room to runBarring a significant market correction ETSY should be able to cross the 150 mark by September. Even with a pullback this stock will probably show resiliency just as it has. The first two blue horizontal blue time spans represent established consolidation periods and the third is assumed (concludes on 8/26)
ETSY starts a new wave extension with a pennantETSY finished a wave correction last week and initiated a new wave extension.
It signaled gathering steam with a pennant in wave 1.
Short term target is the previous high around 136. Longer term if markets hold up, we could be looking at 155.45. Our stop's right below the pennant at 127.
$ETSY Still looking for higher levels.
Etsy held up relatively strong today despite the rotation our of growth in the previous few sessions.
Dips seem to be bought up so will be on watch for a more sustained move in teh days to come.
Hourly resistance levels will be used as target levels, while also considering top of channel as possible resistance.
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ETSY looking bullish on a double pennantETSY had a mini correction after earnings recently. It has started to move up on a double pennant.
Quite unusual to see but as I've drawn and labeled. ETSY formed the first pennant on the 6th and the second on the 7th as a result of market dip.
As a result, I'm expecting a bullish move up which actually started at 2 EST and could continue into Monday, 8/10.
ETSY Strategy: $125 Entry, Long PT at $150Right now, I'm still guessing an overall long position at ETSY, but think it will continue having some more resistance until reaching the $125 price point prior to retesting. That being said, I think by November, this stock can easily reach $150 for a long PT target. The correlations seem to point to positive support levels overtime. As always, please do your own due diligence. Everything I say is on an opinion based basis. Proceed with caution at your own risk.
