Etsy's Bearish Momentum Signals Further Downside Risk

15 ต.ค.

ETSY shares tumbled 5% to $47.11 following a downgrade from Goldman Sachs to "Sell" with a price target cut to $45 from $70. The technical outlook is weak across both daily and 4-hour timeframes, signaling further downside risk.

Daily Technical Overview:

Oscillators: Indicators like the Stochastic %K (6.31) and Momentum (−5.92) suggest a brief potential for a small rebound, but most oscillators, including the RSI (35.75), remain in neutral territory.
Moving Averages: Both the exponential and simple moving averages across all timeframes (10-day to 200-day) signal "Sell," confirming bearish momentum.
MACD: The MACD level (-1.32) is in the "Sell" zone, indicating weakening momentum.

4-Hour Technical Overview:

Oscillators: While some short-term oscillators like the Commodity Channel Index (−121.12) and Momentum (−1.58) suggest minor buying pressure, the overall trend is still neutral to bearish.
Moving Averages: All key moving averages on the 4-hour chart indicate "Sell," confirming sustained downward pressure in the short term.

Outlook: With both daily and short-term technicals pointing to continued weakness and Goldman Sachs lowering its price target, the risk of further decline is high. The stock is trading below critical support levels, with little to suggest a reversal is imminent.

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