Etsy is down to $103.85, after ending yesterday at $104.74. Overall, a 0.85% loss or 89 cents today.
Technical analysis trend indicators suggest that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Momentum evaluation shows that the Relative Strength Index indicates Etsy is in an oversold condition, which could precipitate a reversal and set up a new bullish phase. Analysis based on the asset volatility indicates that Bollinger Bands® shows an indication of recovery: the lower band is at $100.38, a low enough level to, generally, suggest that Etsy is trading below its fair value.
Overall, the technical outlook suggests Etsy is likely to remain muted for the immediate future, with no clear-cut direction.
Positive performances can be seen by looking at other consumer discretionary stocks as Amazon is up 4.1%. Toyota is trading at $135.43 after ending yesterday's session at $133.58 (up 1.39%). Nike is up 1.43% to $119.86.
Trending downwards for around a month. The global online marketplace is now trading 21.03% below its 3-month high of $148.25.