Etsy Inc (NASDAQ:ETSY) is currently trading at $107.2, up a minuscule 0.18% today. More than 1M shares have exchanged hands compared to an average daily volume of 3.6M shares. The stock currently has a 52 week high of 307.75 and is currently trading with a market cap of 13.57B$.
So why is ETST a good buy in our opinion ?
ETSY is well-managed, continues to beat on earnings reports, and has proven resilient in bull and bear markets. This is a fairly volatile stock and a PE ratio of 35.99 as per yahoo finance.
With inflation coming in higher than expected the QQQ’s gapped down BIG in pre-market yesterday down more than 1.5%. The attempted bounce failed and we continued lower for most of the day closing at $293.70. Today in the pre-market we were slightly red, although due to the high volatility this is changing minute to minute
What to watch for in ETSY: ETSY Stock Analysis
- The next major area of significance to the downside is $293 which were the lows for yesterday. Below that, the next support level is $290 followed by plenty of space to $280. Given the volatility that is not out of the question by tomorrow.
- To the upside the next major level is the psychologically important $300 and above that there is resistance at $303.50 and $308.50.
