$ETSY - RC -
Added 2024-06-24 12:07:17 +0000 UTC$ETSY has not been able to hold above its blue support line and has been drifting down under the 50 and 200 Day MA since losing the blue line at the end of April.
Wedge has formed now too and it is getting tight.
Since the price is below these MA's the bears are in control for now, a break down and the targets are horrific, a breakout to the upside and the targets are as shown.
This 50/50 set up is not something I would take a risk on.
However, fundamentals are not terrible here, arguably attractive.
Comments
Maybe good set up for a long straddle? I know cap doesn’t trade options..
DiegoTheSabre17
2024-06-25 15:20:10 +0000 UTC
