Etsy records flat yesterday on the back of 6th straight day of declines

Yesterday at a glance: Etsy moves 0.3% to close at $104.43 yesterday.

Trend analysis indicates 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. According to asset volatility analysis, Etsy's upper Bollinger Band® is at $141 and the lower is $100.5.

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

Meanwhile, mixed performances were seen by other consumer discretionary stocks as Amazon added 4% to its value, and traded at $100.04. McDonald's was up 1.59%. Toyota traded at $135.9 after closing yesterday's trading day at $133.58 (up 1.74%).

Pointing downwards for around a month. The e-commerce company has shed 21.03% over the past three months.