The company reported 2nd Quarter June 2021 earnings of $0.72 per share on revenue of $528.9 million. Earnings estimates averaged $0.63 per share on revenue of $523.6 million. Revenue grew 23.4% on a year-over-year basis. – IBD
We also focus on stocks with an 80 or higher RS Rating when adding candidates to our watchlist. With that in mind, Etsy (ETSY) just met that criteria as RS line climbs to 89.
This measure is one factor, in addition to sales and earnings growth, that we watch when considering the best stocks to buy, This rating measures technical performance by using a scale from 1 (worst) to 99 (best). The resulting score indicates how a stock’s price action matches up against that of all other stocks over a trailing 52 week period.
History shows that the top-performing stocks tend to have an RS Rating of above 80 as they launch their biggest price moves.
Etsy Added to Watchlist
Etsy is trending above the stacked 9/21/50d moving averages and showing signs of breaking out of its 8-week consolidation. Volume surged to 2 x normal on the Thursday thrust above recent pivot highs.
MACD crossed late last week, remaining above its bullish signal line, while RSI suggests the trend is strong (>64.53) with room to run (MACD/RSI not shown). Click to enlarge chart.
We’re looking forward to higher prices in Etsy, Inc. into the Fall. We have a small position in shares and will use trailing stops, acknowledging the stock has a (ATR) of 8.39pts. The “average true range” is expanding, so it wouldnt be surprising to see this measure rise to about 10 (+/-) as traders start to notice the break out.
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Happy Trading,
Vinny
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