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Etsy Inc Rises 32.28% on Heavy Volume: Watch For Potential Pullback

By David Diaz

Etsy Inc (NASDAQ:ETSY) traded in a range yesterday that spanned from a low of $39.84 to a high of $44.78. Yesterday, the shares gained 32.3%, which took the trading range above the 3-day high of $33.49 on volume of 17.6 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Etsy Inc share prices have been bracketed by a low of $13.12 and a high of $44.78 and are now at $44.06, 236% above that low price. Over the past week, the 200-day moving average (MA) has gone up 1.2% while the 50-day MA has advanced 1.0%.

SmarTrend recommended that subscribers consider buying shares of Etsy Inc on February 14th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $19.79. Since that recommendation, shares of Etsy Inc have risen 66.7%. We continue to monitor ETSY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders etsy inc

Ticker(s): ETSY