Nov. 13 at 2:30 AM
$ETSY is currently trading at
$63.74, below both the 30-day moving average (MA30) of
$68.23 and the 50-day moving average (MA50) of
$65.20, indicating bearish sentiment. The RSI at 35.22 suggests the stock is nearing oversold territory, which may lead to a potential reversal. The recent 60-day high of
$76.51 and low of
$50.26 indicates a wide trading range, providing volatility opportunities.
Directional bias is bearish in the short term due to the price being under both MAs. However, the low RSI may signal a potential bounce.
Suggested entry point is at
$62.50, with a stop loss set at
$60.00 to manage risk. Target 1 is set at
$66.00, near the MA50, and Target 2 at
$70.00, aligning with a potential recovery towards the MA30.
This plan leverages the current market context and technical indicators for a calculated approach.
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