ETSY is now trading way above it's June's low, which means it has good relative strength compared with the S&P500. Even so, it could still be volatile, having 61.8% since hitting a swing high (B) on 16 Aug.
It has been trading in a downward channel (extended "flag") for the past 6 weeks and it looks like an eventual break above this "flag" cold be near . When it does (break up), it will be further validation that this stock is on it's way to recovery.
Then again, we just never know if FED will come in again to pull the brakes. Hence , be optimistic but also realistic and have a stop loss in place.
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
It has been trading in a downward channel (extended "flag") for the past 6 weeks and it looks like an eventual break above this "flag" cold be near . When it does (break up), it will be further validation that this stock is on it's way to recovery.
Then again, we just never know if FED will come in again to pull the brakes. Hence , be optimistic but also realistic and have a stop loss in place.
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.