Without a clear-cut direction, Etsy is trading around $102.11 and ranging between $101.34 and $103.17.
- Etsy is currently trading at $102.11 following the release of Services PMI data from the United States.
- Etsy has been pretty quiet for the last 7 days, trading mostly flat and moving by only 29.7143 cents on average.
United States Services PMI came out at 53.7, while a consensus of analysts was expecting 51.5. United States Existing Home Sales (Mar) released yesterday at 14:00 UTC with a figure of 4.44 million, while the previous figure was 4.55 million.
Etsy, Inc. is approaching key support, around $1.86 away from $100.25. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls. Etsy made an initial breakout above its 10 day Simple Moving Average at $102.41, a potential indicator of a newly emerging bullish phase. Etsy's upper Bollinger Band® is at $110.76 and the lower is $98.63.
Despite muted price action in Etsy, chart analysis indicates it is positioned for a bullish run in the short term.
Amazon is up 3.5% to $107.44. After closing the previous session (yesterday) at $90.74, Alibaba lost $1.8 and is trading around $88.94. Walt Disney is trading at $98.86 after ending yesterday's session at $98.07 (up 0.81%).
Trending downwards for around 2 months. Having set a significant high of $148.2 2 months ago, the e-commerce company is trading 31% lower.