Ian Cooper’s Stock Pick of the Week

Chart of Day: Etsy (ETSY)

Keep an eye on Etsy (ETSY).

After finding triple-bottom support dating back to November, ETSY is just starting to pivot higher again. It’s also starting to pivot from over-extensions on RSI, MACD and Williams’ %R.  Also, after a significant number of analysts lowered their price targets on the stock, it appears most of the negativity has been priced in.

 

With stocks like ETSY, investors appear to be buying the excessive pessimism, or as Baron Rothschild would refer to it, “the blood in the streets.”

Ian Cooper is an experienced trader who uses a combination of technical, fundamental, and news analysis to help individual investors grow their wealth. Ian’s Premium Options Strategies

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