ETSY Archives - FaithMight

June 29, 2022June 29, 2022

ETSY Loses More Than 8% In One Day

Since the all-time high of Etsy was reached in November 2021 at $309.06, price has continued to dwindle as it has lost over 75% of its all-time high. The price of Etsy at the beginning of 2022 was at $222. Etsy has not recorded any profits this year as price has kept falling from the opening price of the year.

Etsy’s share price is currently at $74.04 and the current support level sits at $66.98. Earlier in the year, precisely between February and April, there was a range in price between $113 and $164. The price broke out late in April which led the price to reach its current support level in mid-June 2022. This support level was last reached in May 2020.

On the daily, weekly, and monthly charts, there are no indicators of price being oversold on the RSI. Could this be an indication of a possible continued downward run of Etsy’s share price keeping in mind that on the 28th of June, 2022, the price opened at $79.11 and closed at $74.04 which was an 8% loss in just a single day? On another hand, candlesticks on the daily time frame indicate that price has been consolidating. From our analysis, we see the bears continuing to push the price lower despite the consolidation.

Some of these ideas are in our clients’ portfolios. To understand if this one can work for you or for help to invest your own wealth, talk to our advisors at FM Capital Group. Would you like more information on how to get stocks in your portfolio? Schedule a meeting with us here

April 1, 2022April 4, 2022

Etsy Share Price Consolidates

American e-commerce company, Etsy, began to suffer a big loss in share price after an all-time high was reached at $307.57 on December 26, 2021. $ETSY has lost about $200 since its all-time high last year December. The bears have been more active since the beginning of the year 2022. Etsy opened the year 2022 at $222 but has since lost about $100, leaving it at $124.28 as at April 1, 2022.

In the past 5 months, there have been several indications of the price being oversold on the Etsy 4hr Chart . Etsy’s previous support level on the weekly chart was maintained at $155.15 since May 2021. The recent downward slide this year has made Etsy reach a new support level at $108.95 as of February 24, 2022. The next bull run for Etsy might make the price reach $278, which is over $105 gain from its current price. In a situation where the bulls continue to push prices higher than $278, a new all-time might be reached. As price consolidates, a breakout to the upside above $164, could be the clue for the next bull run.

March 1, 2022March 1, 2022

Etsy Dips To A New Low

Etsy is an American Vintage e-commerce company focused on handmade and vintage items and craft supplies. Etsy was founded 16 years ago and went public about 7 years ago at $16. On the day of the IPO, the share price rose by 72%. After 9 months of its launch on the stock exchange, it took a bearish turn and hit an all-time low at $6.04.

From January 2016, $ETSY share price took off in the bullish wave. In November 2021, Etsy’s price reached a new all-time high at $308.96. That high reflected on the RSI as an “overbought” indication. Following that all-time high, the share price fell and so far, the share price has lost 65% of the price of the all-time in November 2021. The most recent price dip did not indicate oversold on the RSI despite the 65% fall in price. The crisis between Russia and Ukraine has not really affected the US stocks as $ETSY has been appreciating from the new low at $108.53 for the past two weeks. This appreciation could lead to a long-term rally that could see $ETSY gaining 100 points.

June 16, 2021June 16, 2021

ETSY SHARE PRICE IN A RANGE

ETSY made its stock market debut on April 16, 2015, with an initial public offering of $16 per share. Etsy was able to sell 13.3 million shares at the time. Since the launch, ETSY has appreciated in value by about 15X. Put into real perspective, If $1million was invested in $ESTY in 2015, the current value should be over $14million.

ESTY has maintained a bullish run in the past 6years, reaching an all-time high at $252.53. However, Since the all-time was attained, the price has started to dip. A head and shoulder pattern has been formed between February and April of this year, which brought about a range between $190 and $252.

After the head and shoulder pattern has been formed, there came a dip which made the price reach $153. Since the price fell from an all-time high at $252, $ETSY has lost 39% of its share price. Since the beginning of May 2021, $ETSY price has been between $153.80 and $176.50. Indications show there would be a breakout soon. To the downside or to the upside? There are chances price might appreciate towards $200 in the coming weeks. Business Insider has opined that the next coming month might be bullish for $ETSY( ). Since the recent dip in price, RSI has signaled that the price has been oversold.

June 30, 2020June 30, 2020

How Do You Trade The Breakout Stock

$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.