Etsy closed at $104.06 after losing 1.15% yesterday

Investors are currently sidelined due to the Good Friday holiday but will return to their desks Monday. Looking back over the previous session yesterday: a tough session dominated by bearish sentiment left Etsy $1.21 lower, while setting a $100.74 to $104.72 session range.

United States Non Farm Payrolls published today at 12:30 UTC came out at 236,000, falling short of the 239,000 projections and continuing its decline from the previous 326,000 figure. United States Initial Jobless Claims released earlier showed a marked improvement to 228,000 from the preceding data of 246,000, but fell short of the 200,000 figure forecast by a consensus of market analysts.

This down-slide takes place while positive United States macroeconomics indicators data was published earlier – data for United States Unemployment Rate published today at 12:30 UTC came out at 3.5, beating projections of 3.6 and showing improvement over the preceding figure of 3.6.

Etsy, Inc.'s lower Bollinger Band® is at $101.26, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. Etsy could begin to recover as it approaches significant support, now $4.87 away from $99.19. Dipping below could be an indication that further losses are ahead.

Technical analysis shows that Etsy (currently on a downtrend) might reverse course and start going up in the short term.

Etsy was not the only decliner in the consumer discretionary sector; Toyota lost 1.1% yesterday and closed at $138.87.

On the other hand, positive performances could be seen by looking at other consumer discretionary stocks as Alibaba was up 4.25%. Amazon added 0.95% to its value, and traded at $102.06.

Trending downwards for around 2 months. Having soared to a high of $148.2 approximately 2 months ago, the e-commerce company is now trading 28.97% lower.