+ 0.00
+ 0%
+ 0.00
+ 0%
+ 0.00
+ 0%
+ 0.00
+ 0%
+ 0.00
+ 0%

3 Top Stocks That Could Breakdown This Week

April 21, 2021 8:19 am
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
3 Top Stocks That Could Breakdown This Week

iRobot Corporation (NASDAQ:IRBT), Upwork Inc. (NASDAQ:UPWK), and Etsy, Inc. (NASDAQ:ETSY) are all trending lower and the charts look like these downtrends will continue.

iRobot is testing an important support at the $110 level. It reached this level twice in March and it rebounded each time.

The stock is now testing this level again. If it breaks, the shorts sellers will hit it, which could drive it much lower.


Upwork shares are in a freefall. They may find support around $41 as this level was support in March and it may be so once again.

If the $41 level breaks, it will mean the buyers who formed the support have left the market, and the sello-ff will continue.


Etsy has formed a classic head and shoulders pattern. Many technical analysts don’t know that these patterns can have multiple shoulders, but that's the case here.

The $192 level is the neckline of the pattern. If support at this level fails, shares could fall much further.

The way to determine a price target in these patterns is to take the distance from the head to the neckline, and then subtract it from the neckline. The head was around $240 and the neckline is $192. That would put the price target around $144.



Related Articles

Circular Reasoning, Waste Avoidance Are Now Investable Themes With New Direxion ETF

Linear is out. Circular is in and there's a new way for investors to tap into theme thanks to the recent debut of the Direxion World Without Waste ETF (NYSE: WWOW). read more

Will Shopify Stock Reach $2,000 By 2022?

Every week, Benzinga conducts a sentiment survey to find out what traders are most excited about, interested in or thinking about as they manage and build their personal portfolios. read more

Waste Not, Want Not With New World Without Waste ETF From Direxion

This has been a record-breaking year in terms of inflows to environmental, social and governance (ESG) exchange traded funds and those ETFs emphasizing sustainability. read more

16 Black Friday And Cyber Monday Stocks You Can't Miss

Thanksgiving Week kicks off the most intense portion of the holiday shopping season for retail stocks. There’s no question holiday season 2020 will be like none other, but some experts believe Americans will be buying big this week, and that could be very good news for retail stocks. read more