In the daily bar chart of ETSY, below, we can see that prices have moved nicely higher the past twelve months. Despite a number of corrections, patient investors who went long a year ago could have doubled their money, but technical conditions have weakened the past few months.
ETSY is trading below the declining 50-day moving average line. The 200-day moving average line is still pointed higher and has seen some tests of the line in October, December and a couple weeks ago. Despite the trend still being up, prices did make a peak in early March.
The daily On-Balance-Volume (OBV) line has worked lower the past three months signaling a shift to more aggressive selling and the Moving Average Convergence Divergence (MACD) oscillator is below the zero line but possibly generating a cover shorts buy signal.
In the weekly bar chart of ETSY, below, we can see that prices are above the rising 40-week moving average line.
The weekly OBV line is bullish but the MACD oscillator has crossed to a take profits sell signal.
In the Point and Figure chart of ETSY, below, we have some mixed signals. Prices show a peak back in March (look for the "3" on the chart).
There is an upside price target of $81 being projected but there is a band of chart resistance above the market. A decline to $61 will start to weaken the picture.
Bottom-line strategy: A quantitative downgrade to hold and some technical weakness is enough to get me to go to the sidelines. Protect long positions.