Shopify Inc.Long
SHOP has always been volatile
Sold off on strong earnings release
Sold off on secondary offering at $1315
Continued weak with broad NDX100 sell-off
My strategy for week no. 9 :
• Assess NDX100 trend by Monday close (is selloff accelerating or abating?)
• On SHOP move toward $1390, trim position (cut long shares by half)
• If SHOP trends toward $1180, convert long shares to in the money Jan 2022 calls
I'm still bullish. Expecting near-term rally to $1390 (not more selloff). But NDX100 is worrisome and could pull SHOP lower.
Sold off on secondary offering at $1315
Continued weak with broad NDX100 sell-off
My strategy for week no. 9 :
• Assess NDX100 trend by Monday close (is selloff accelerating or abating?)
• On SHOP move toward $1390, trim position (cut long shares by half)
• If SHOP trends toward $1180, convert long shares to in the money Jan 2022 calls
I'm still bullish. Expecting near-term rally to $1390 (not more selloff). But NDX100 is worrisome and could pull SHOP lower.
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.