Etsy resumes decline - Analysis - 06-05-2022

Etsy's stock swooned 16.83% in the last session, settling at 90.93 with trading volumes surpassing 15.3 million shares, amid the dominance of the downward trend in the short term, with negative pressure from the 50-day SMA, coupled with negative signals from the RSI.

The losses came after the company reported a drop in first-quarter profits even as earnings rose.

Therefore we expect more losses for the stock, targeting the support of 73.35, provided the resistance of 109.38 holds on.

Expected trend for today: Bearish