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A quick look at yesterday: after closing Friday at $90, Etsy closed at $92.78 yesterday after climbing to $95.49 and dropping back down.
Etsy, Inc. made an initial breakout above its 3 day Simple Moving Average at $93.84, a potential indicator of a newly emerging bullish phase. Etsy's lower Bollinger Band® is at $91.11, indicating that the market is oversold and fertile for new buyers. On the other hand, note that although Etsy is appreciating today after rising as high as $95.49, price action is now slowing and consolidating around $2.71 below the $95.49 resistance level.
Overall, looking at the technical analysis landscape, it seems Etsy likely to continue pointing upward in the short term.
A look at other consumer discretionary stocks also showed bullish price action as Walt Disney traded at $102.97 after closing yesterday's trading day at $100.52 (up 2.44%). Tesla added 1.02% to its value, and traded at $171.79.
While Etsy was bullish yesterday, the following consumer discretionary stocks underperformed: Lowe's went down to $204.05, losing 0.86% after it closed at $205.81 yesterday.
Also worthy of note, tomorrow at 14:30 UTC data for United States Crude Oil Inventories will be released, with an expected decline to -1.6 million from the preceding figure of -1.28 million.
Elsewhere, United States Consumer Price Index figure is projected at 0.4%. It previously stood at 0.1%; data will be released tomorrow at 12:30 UTC. United States Core Consumer Prices is expected tomorrow at 12:30 UTC.
Trending downwards for around 3 months. Having soared to a high of $148.2 approximately 3 months ago, the e-commerce company is now trading 39.27% lower.