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June 30, 2023
The global online marketplace is sliding down from $85.73 to $84.61, taking a 1.31% loss as it nears the end of the session.
Following a previous reading of -0.4%, Pending Home Sales in United States released yesterday at 14:00 UTC fell short of the -0.5% figure expected by analysts with an actual reading of -2.7%.
While price action maintains a negative bias, United States Core PCE Price Index (YoY) (May) came out at 4.6, while a consensus of analysts was expecting 4.7. United States Core PCE Price Index (MoM) (May) released today at 12:30 UTC with a figure of 0.3, while the previous figure was 0.4.
Etsy, Inc. bounced after reaching the $84.46 support zone, climbing 15 cents above it. Etsy's lower Bollinger Band® is at $82.04, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.
Technical analysis shows that Etsy (currently on a downtrend) might reverse course and start going up in the short term.
In the meantime, negative performances are also seen in other consumer discretionary stocks as after closing the previous session (yesterday) at $113.37, Nike lost $2.55 and is trading around $110.82.
Positive performances can be seen by looking at other consumer discretionary stocks as McDonald's is up 1.5%. Booking Holdings is trading at $2,713.62 after ending yesterday's session at $2,656 (up 2.17%).
Having soared to a high of $148.2 approximately 4 months ago, the e-commerce company is now trading 42.15% lower.
