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Wajeeh Khan

Etsy Stock Breaks Above Its 20-Day Moving Average on Depop Sale. Does That Make ETSY a Buy Here?

Etsy Depop eBay

Etsy (ETSY) stock closed nearly 10% higher on Feb. 19, after the e-commerce firm divested Depop, its fashion resale platform, to eBay (EBAY) for $1.2 billion in cash.

On Thursday, Etsy reported better-than-expected per-share earnings for its fiscal Q4 as well, which helped its stock price push briefly above its 20-day moving average (MA). While this technical setup often precedes a relief rally, neither fourth-quarter release nor Depop sale warrant buying ETSY stock at current levels.

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