firstly 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
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