Etsy, Inc. Stock Forecast
Stronger technical forecast for Etsy, Inc. stock price after Friday trading.
(Updated on Apr 26, 2024)
The Etsy, Inc. stock price gained 2.51% on the last trading day (Friday, 26th Apr 2024), rising from 61.68€ to 63.23€. During the last trading day the stock fluctuated 1.42% from a day low at 62.52€ to a day high of 63.41€. The price has risen in 6 of the last 10 days but is still down by -0.63% for this period. Volume fell on the last day by -70 shares and in total, 59 shares were bought and sold for approximately 3.73€ thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -10.29% during the next 3 months and, with a 90% probability hold a price between 51.87€ and 60.15€ at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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3E2.F Signals & Forecast
The Etsy, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at 62.83€ and 62.72€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 03, 2024, and so far it has risen 5.51%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Etsy, Inc. stock
Etsy, Inc. finds support from accumulated volume at 63.03€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved 0.89€ between high and low, or 1.42%. For the last week the stock has had daily average volatility of 2.00%.
Our recommended stop-loss: 60.08€ (-4.99%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 17 days ago.)
Trading Expectations (3E2.F) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Etsy, Inc. to open at 63.05€, and during the day (based on 14 day Average True Range), to move between 61.56€ and 64.90€, which gives a possible trading interval of +/-1.67€ (+/-2.64%) up or down from last closing price. If Etsy, Inc. takes out the full calculated possible swing range there will be an estimated 5.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 63.03€ (0.32%) than the resistance at 65.69€ (3.89%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Etsy, Inc. will release earnings BMO on Wednesday, May 01, 2024. We will update the financials statements for Etsy, Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.45% in the first trading day after earnings release.
Is Etsy, Inc. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.605 Buy Candidate Upgraded
Predicted Opening Price for Etsy, Inc. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| 63.05€ ( 0.279%) | 63.23€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3E2.F
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 63.94 | 1.13 % | |
| R2 | 63.60 | 0.590 % | ||
| R1 | 63.39 | 0.258 % | ||
| Current price: | 63.23 | |||
| Support | S1 | 62.71 | -0.82 % | |
| S2 | 62.50 | -1.15 % | ||
| S3 | 62.16 | -1.69 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 70.60 | 11.66 % | |
| R2 | 65.90 | 4.22 % | ||
| R1 | 65.69 | 3.89 % | ||
| Current price | 63.23 | |||
| Support | S1 | 63.03 | -0.316% | |
| S2 | 62.98 | -0.395% | ||
| S3 | 60.28 | -4.67% |
FAQ
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