ESTY - pullback tradeEtsy, Inc. is an online marketplace for buyers and sellers, and operates in the United States, Canada, the United Kingdom, France, Germany and Australia. It mainly focuses on handmade or vintage items and craft supplies that include unique jewelry, on-trend clothing, bags, toys, art, home decor and furniture. In addition, the company offers several services to sellers including payment processing, advertising platform and shipping services.
ETSY is a strong buy within the analysts circles, with an average buy target of USD 224.
Stock has been popular within the Blogging community, Hedge fund activity has also seen a bullish signal with about 341.5K shares added last quarter.
From a technical perspective, price is sitting right below the 20 Day Moving Average, but above the 20 Week moving Average. Both should add some indecision in some of the traders minds. However, RSI is bullish on multi time frames.
Out of the 147 stocks in the Retailing space, 42% are above the 5Day MA and 24% are above the 20 Day MA. The sector needs to show more action to bring the bulls interest back in here...I
If ETSY closes above the 20 Day MA, we could look for a swing trade.
