ETSY closes within prior day's range
Etsy Inc. (ETSY) Technical Analysis Report for Jul 02, 2020 | by Techniquant Editorial Team
ETSY ended Thursday at 110.68 losing $0.53 (-0.48%), underperforming the S&P 500 (0.45%) ahead of tomorrow's Independence Day OBS market holiday. Closing within the previous day's range, prices missed to decisively move beyond the prior day's trading range.
Daily Candlestick Chart (ETSY as at Jul 02, 2020):
Thursday's trading range has been $4.22 (3.72%), that's slightly below the last trading month's daily average range of $4.62. Things look different on the weekly timeframe, where the market's trading range of the last week has been above the market's average weekly trading range. The longer-term, monthly volatility is currently strongly higher than usual for ETSY.
One bearish candlestick pattern matches today's price action, the Black Candle. The last time a Black Candle showed up on June 1st, ETSY actually gained 4.16% on the following trading day.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.