Short
SHOP below $800 soon
Shopify has currently corrected about 50% from it’s peak and looks like there’s more selling ahead. A high growth name in inflationary environment, so odds are its gets hit more. There’s barely any support below $800, so probably expect it to flush once this bounce is done.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.