Etsy closed at $85.53 (down 0.81%) and added one more to its 5th straight day of losses

The US stock market is closed for the Memorial Day holiday and resumes tomorrow. Meanwhile, here is a recap of Friday: slightly down but mostly flat: Etsy ranged between $84.95 and $87.33 before closing at $85.53.

Chart analysis indicates Etsy, Inc. could begin to recover as it approaches significant support, now 99 cents away from $84.54. Dipping below could be an indication that further losses are ahead. 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. Analysis based on the asset volatility indicates that Etsy's lower Bollinger Band® is at $83.77, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.

All in all, the technical analysis suggests Etsy has no clear-cut direction.

On the other hand, positive performances could be seen by looking at other consumer discretionary stocks as Amazon traded at $120.11 after closing Friday's trading day at $115 (up 4.44%). Tesla was up 4.72%. Lowe's was up 2.73%.

With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as United States Consumer Confidence expected to decline to 99 while its preceding data was 101.3, data will be available tomorrow at 14:00 UTC.

On a negative trend for around 3 months. Over the past 3 months, the e-commerce company has retreated 41.82% from a noteworthy peak of $148.2.