Disclaimer: I don’t own shares of ETSY.
The below analysis is not a trading or investment recommendation & is only for learning purpose.
1.Etsy has been in a downtrend with price trading under the 200 DMA.
2.Price has been in a lower high-lower low structure with the most recent lower high pivot around $148.
3. Price has formed a bullish engulfing bar today...
My Level: LONG at $168 - $164. This could change in the morning. Their conf call was at 5pm this evening. Looking at the Volume Profile POC is sitting right at 168. The quarterly pivot is sitting on 164.
My Level: SHORT at 183.88 - 185.08. On the flip side if we can get an early push into the 50d and 200d area I'll be looking for a fade.
