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Watch for Etsy Inc to Potentially Pullback After Gaining 3.21% Yesterday

By Shiri Gupta

Etsy Inc (NASDAQ:ETSY) traded in a range yesterday that spanned from a low of $15.90 to a high of $16.69. Yesterday, the shares gained 3.2%, which took the trading range above the 3-day high of $15.96 on volume of 1.7 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 $8.56 and a high of $16.69 and are now at $16.43, 92% above that low price. Over the past week, the 200-day moving average (MA) has gone down 2% while the 50-day MA has advanced 0.8%.

SmarTrend recommended that subscribers consider buying shares of Etsy Inc on May 2nd, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $11.37. Since that recommendation, shares of Etsy Inc have risen 39.8%. 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