Although 
SHOP bounced higher today, it looks like the bounce will be short lived.
I think we will see a large move down over the coming weeks to the lower support levels on the chart.
Why? We just formed another lower high. We've been in a downtrend since late February and until the price action can start forming higher lows, or hit the targets below, I think this stock looks heavy and will fall lower.
SHOP bounced higher today, it looks like the bounce will be short lived.I think we will see a large move down over the coming weeks to the lower support levels on the chart.
Why? We just formed another lower high. We've been in a downtrend since late February and until the price action can start forming higher lows, or hit the targets below, I think this stock looks heavy and will fall lower.
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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.