$ETSY is on a tear. After dropping past its 2019 lows during the COVID-19 stock market crash, $ETSY has since skyrocketed to new all-time highs. Price broke above $100 for the first time ever last week. And hasn’t really looked back.
We’ve been buying $ETSY since it was trading in the teens. So the questions becomes how do you put new money to work in an asset that is experiencing such an incredible run up in its price like $ETSY has? The short answer is I wait.
I know that sounds strange but trading forex has hardened me. I just don’t chase price action. A correction always happens…in the forex market. That’s not necessarily the case in stocks. The trader in me can underestimate the effect of good (or poor) company management on stock prices. And Etsy is a very well-run company. Has been for years. Change your timeframe to long term then any price below $100 has been a good chance to buy.
If you already have a position, be patient and wait for Etsy to pay a dividend 🙂
If you are interested in learning how to find and use these levels in your trading, please check out the CHARTS101 course. Read the charts for yourself so you can trade what you see and not what I think.