Etsy Inc. $ETSY had a good run in 2018 into early 2019. It weathered the market downturn in early and late 2018, making new highs during each period. However, after price cracked $72, it started to consolidate. The daily chart below shows a "period of distribution" from March through July, after which price completed the price top and started retreating.

ETSY Daily Chart

(click to enlarge)

Price Top:
- The price top had support, or a neckline, in the $55-$57 area.
- Note that price broke multiple support factors in by early August: 1) the moving averages, 2) a rising trendline, 3) and the neckline.
- Then in August, price consolidated a bit, but found resistance at the previous support. This was a bearish sign and a bearish continuation followed.
- As price continues to pull back, we can anticipate support around $39-$40, a previous support pivot in 2018. 
- This support anchored the eventually bullish run above $70. 
- A deeper retracement to $30 would not be out of the question. If price does get here, I would make sure to have enough dry powder to get a decent exposure. 
- There is a minor support/resistance pivot around $30 and the 200-weekly simple moving average would be around this area to serve as possible support as well. 

ETSY Weekly Chart

(click to enlarge)