Shopify Inc.Long
SHOP a potential bullish thesis
Just purely from a technical analysis perspective, SHOP has completed what looks like a H&S pattern on the weekly, and has so far held the 61.8% Fib retracement level like a champ. Even if I am not a big fan of the monstrous run that SHOP has had this year, I think there is tremendous potential here for continuation at least to the 350 level again. And that is a possible trade scenario to take either call spreads or calendars converging on the 350 level a month out IMO.
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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.