Etsy extended a 3 day uptrend having already gained $2.72

Etsy has posted further gains as part of a 3 day trend that has already seen the stock gain $2.72. Etsy pointed in the same direction yesterday: after dipping down to $98.71, Etsy regained earlier losses and closed at $101.03.

Meanwhile, United States Core PCE Price Index (MoM) (Mar) released yesterday at 12:30 UTC with a figure of 0.3, while the previous figure was 0.3. Fresh CFTC Crude Oil speculative net positions data from United States came out at 236,400. United States CFTC Gold speculative net positions released yesterday at 20:30 UTC with a figure of 185,300, while the previous figure was 189,900.

Etsy, Inc. made an initial breakout above its 5 day Simple Moving Average at $100.3, a potential indicator of a newly emerging bullish phase. Etsy's lower Bollinger Band® is at $97, indicating that the market is oversold and fertile for new buyers. On the other hand, note that Etsy could be slowing down soon as it approaches resistance at $101.92. Of course, crossing it might suggest further gains are ahead.

Overall, looking at the technical analysis landscape, it seems Etsy might continue pointing upwards in the short term.

On a negative trend for around 2 months. Having set a significant high of $148.2 2 months ago, the global online marketplace is trading 32.19% lower.