SHOP needs a pullback here for a confident long rather than chasing it. Expecting this would be the probable path for this run. There is gap below, it can be filled or can act as support. Target 1 - 90 Target 2 -100 Stop loss 55
The earnings reaction was positive today which saw shares of shop go up over 20%, however we're already fading the news. The big picture is that we're in the process of a larger market wide correction that will bring all stocks down with it. If we look at the chart, even with the news today, price has just formed another lower high and is setting up for a large...
Shopify Inc. (NYSE: NYSE:SHOP ) experienced a remarkable 22% surge in its stock price following its second-quarter earnings report, which significantly exceeded Wall Street expectations. The Canadian e-commerce giant showcased impressive growth in key financial metrics, despite a challenging consumer spending environment. Financial Highlights - Earnings per...
Shopify stock has seen sideways momentum for the last few weeks despite posting good results in the recent quarter. One of the reasons is the bull run in early 2023 due to which the stock has seen over 60% jump in year-to-date. Shopify has been able to reignite revenue growth in the last few quarters and there are strong tailwinds that can help the company improve...
I am a discretionary trader. This means there are some weeks in the year when I wait and watch what’s going on. From here, there are 3 potentials - 1-We keep ranging here and the stocks keep choppy. In this case, it is waste of premiums. 2-We drop. In this case it is better to wait for lower levels to find attractive setups. 3-We rally. If this happens, I am...
Shopify stock has now dipped into our magenta Target Zone (coordinates: $62.74 - $52.88). Here we expect the low of the magenta wave (b) and a reversal. The price should now rise again well above the resistance at $67.60.
Considering Shopify, the situation is unfolding as we anticipated. We expected the beginning of 2024 to potentially mark the peak for Shopify with the completion of Wave (1), indicating a Wave 2 correction. This correction is likely to find support between the 63.8% and 78.6% retracement levels. Currently, the pattern is showing lower lows and lower highs,...
SHOP broke support 2 levels,does it got enough support to bounce? Looks like around 55 is inevitable?
Canadian e-commerce platform Shopify ( NYSE:SHOP ) has reported its slowest quarterly revenue growth in two years, with its U.S. shares slumping 20.5% in premarket trading. The company's core clientele, small and medium-sized businesses (SMBs), have been more susceptible to the hit from sticky inflation. Analysts estimated current-quarter revenue to grow 19.35%,...
If you haven`t exit SHOP when the selloff started: Then analyzing the options chain and the chart patterns of SHOP Shopify prior to the earnings report this week, I would consider purchasing the 78usd strike price Calls with an expiration date of 2024-5-10, for a premium of approximately $3.75. If these options prove to be profitable prior to the earnings...
Reasons for bullish bias: - Price is sitting at daily support - Price gave breakout of B point in XABCD pattern - Bullish candles accompanying since previous support - TP1 till resistance - No divergence Here are the recommended trading levels: Entry Level(CMP): 77.20 Stop Loss Level: 72.11 Take Profit Level 1: 82.56 Take Profit Level 2: Open Downside: Earnings...
Wayfair is an e-commerce platform for furniture and home goods sold online. It has had gradually decreasing volatility on the daily chart in a symmetrical triangle, W is halfway between the past earnings in early February and the upcoming in May. Price is currently also compressing inside the triangle and halfway between the mean VWAP and the first upper...
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NYSE:SHOP -Positive trend and following trendlines -Exceptions on Octobers (different low trendline) -Just did a correction and filled a vector -Already hit the 50EMA in the daily timeframe, and very close to hitting the 800EMA in the hourly timeframe -A huge gap ~85.5 to be filled, and possible higher targets -Stop loss slightly lower than ~70 (as it means it...
SHOP made a beautiful good ol’ Cup & Handle pattern and breaking out of it . I’ve a sizable position already from the lows. It’s already 2x from the bottom and has potential for 2x more from here. If market conditions favors the growth names , we can see 2x soon. 70 level acting as support here. 45 would been optimal entry but if you are going long here ,...
On the 4H chart SHOP has been trending up since last fall when it fell through the high volume area and then rebounded crossing through it and rebounding. Earnings have been solid beats for over a year. Volume is persistent and steady while the relative strength rising from a bounce down to the 50 level to begin this month. This is a solid earnings play...
Shopify ( NYSE:SHOP ), the Canadian e-commerce giant, recently reported its fourth-quarter earnings, causing a stir in the market. While the company surpassed expectations in terms of earnings and revenue, its guidance for the upcoming quarter fell short, triggering a significant dip in its stock price. Let's delve deeper into what these results mean for investors...
As e-commerce continues to shape the retail landscape, Shopify (NYSE: NYSE:SHOP ) emerges as a key player, catching the attention of investors with a crescendo of positive indicators and cautious notes. Let's delve into the harmonious symphony that surrounds Shopify's recent performance. 1. A Harmonious Prelude: Bullish Analyst Report The stage is set with Wells...