$SHOP New Highs IdeaSHOP really like how this chart is setting up. A break above $807 could see some chasing and short covering
SHOP
SHOP SHOP SHOPListened to the CEO's interview this last week and he seems optimistic that SHOP sellers are adapting to the pandemic and will come out ahead. Says RETAIL sales fell off a cliff but have seen a slight uptick. Sounded confident could weather the storm like 2008.
When this thing runs, LOOKOUT
SHOP - H & S to Bull FlagNeeds to break $758.29 wall for a new all time high rally
support at $666 with 50ema.
Catalyst: Retail going all in online shopping.
SHOP bearish englufing + possible bearish Gartley Looking for a break of the (B) to confirm Gartley for a move up to (D) to enter short. Add to the short on the blue trend line break, with PT 1 at first green line (.382) and PT 2 at the next green line (.618).
$SHOP FIB Re-Trace would have this back to 850 +/-What happens when a 200MA crosses
a 9,20 and a 50MA?
Usually nothing good unless your SHORT!
$SHOP Plays Siren Song for New Short BetsSHOP has been on a parabolic run for months. The stock recently spiked higher and then reversed those gains. And now holds the potential to form a "lower high", giving fresh short spec money a clear setup to attempt a tight-risk bear bet on a larger pullback.
SHOP - Shopify Sell BubbleHello traders,
Description of the analysis:
Shopify selling bubble speculation.
About me:
Hi, my name is Jacob Kovarik and I´m trading on stock exchange since 2008. I started with a capital of 3000 USD. My first strategy was based on OTM options. (American stock index and their ETF ). I´ve learnt on my path that professional trading is based on two main fundaments which have to complement each other, to make a bussiness attitude profitable. I´ve tried a lot of techniques and many manners how to analyze the market. From basic technical analysis to fundamental analysis of single title. My analytics gradually changed into professional attitude. I work with logical advantages of stock exchange (return of value back to average, volume , expected volatility , advantage of high stop-loss, the breakdown of time in options, statistics and cosistent thorough control of risk). At the moment, my main target is ITM on SPM index. Biggest part of my current bussiness activity comes from e mini futures (NQ, ES). I´m trader of positions. I´m from Czech republic and I take care of a private fund (4 000 000 USD). During my career I´ve earned a lot of valuable experience, such as functionality of strategies and what is more important, control of emotions. Professional trading is, in my opinion, certain kind of mental training and if we are able to control our emotions, accomplishment will show up. I will share with you my analysis and trades on my profile. I wish to all of you successul trades.
Jacob
SHOP: Party's Ending in 20 dollars: $798- Key Level at $798. And there are no foreseeable news/events/factors that will give SHOP that push through.
- Party's almost over.
- SHOP will be going sideways or have a moderate pullback upon reaching $798. Take your profit.
Shopify: Unusustainable Parabolic Move Analysis 1D, 1W (May 25)X Force Global Analysis:
Shopify, a multinational e-commerce platform located in Canada, has shown extremely strong bullish momentum for the past few weeks. In this analysis, we take a purely technical approach, and explore the bearish signs emerging from Shopify's intense bull run.
Analysis
- On the left hand side, we have the daily chart for Shopify (SHOP)
- The first thing we notice is the number of gaps that have been formed on the daily chart
- While Shopify has been on a bull run, it has been trading in an extremely choppy trend, forming gaps from $772 down to $367
- This excludes the gaps that have been filled by the candle's wick
- Counting Elliott Waves, we see a textbook impulse wave count (12345)
- While we are currently completing wave 5, it is hard to confirm whether there is more upside, or whether we have topped out, as this is a record high
- The Relative Strength Index (RSI) is extremely overbought on the daily
- While the Moving Average Convergence Divergence (MACD) has negated its death cross, the bullish histograms do not demonstrate much momentum either
- The envelope indicator demonstrates that we are overextended on the daily, potentially looking for at least a pullback
- On the right hand side, we have Shopify's weekly chart
- The weekly chart demonstrates a clear parabolic trend
- We can spot an extended bearish divergence, in which we see higher highs on the price, and lower highs on the RSI
- It's also important to note that the RSI is at overbought regions on the weekly too
- Parabolic trends are unsustainable, and even if we were to see a correction down to test the parabolic trend, that would be a 50% move down from current price levels
What We Believe
While Shopify is a stock that is sound fundamentally, technicals demonstrate clear signs of prices having been overextended and the stock being overbought.
Trade Safe.
$SHOP -- same parabola different name$SHOP FFS if I have to look at one more super negative EPS company with a massive boner parabola chart im going to lose my mind... Another toppy ass mother fucker.. shits starting to make $TSLA look tame....
Fortinet - Flag on 10smaSoftware companies have really enjoyed the rally year-to-date.
Fortinet shocked the market with a triple play in earnings, which resulted in a jump to start the "All-time-high Run"
TWLO, SHOP, OKTA, TTD are some examples of stocks with very similar moves, indicating oversold territory in the RSI can stay oversold for longer than you might expect. Also, the 10-day-moving average has been very indicative in these charts.
As long as we continue to hold the 10sma, the trend remains bullish.
Short SHOP
Overbought on low volume.
Short 750, Stop 775, Target 1 670, Target 2 590.
Shopify has benefitted from an increase in stores on the platform during the pandemic but this short term metric does not justify a longer term price. Yes, it's been necessary for traditional brick and mortar only to migrate to e-commerce but this is priced like those customers are going to be around for the net 20 years, not just implementing an emergency strategy to survive in this extraordinary time. Great first quarter results, and a sound business, but a little too rich at this time.
Short Shopify $SHOP (Ridiculously Overvalued) Hey traders, today I share my short trade in Shopify $SHOP as the fundamentals and technicals have aligned for a good risk/reward short entry imo, plus it serves as a good hedge to a traditional long portfolio of stocks.
Be sure to follow this trading idea as I will update it as it progresses.
Have a good week!
Jared.
SHOP Long BiasAs you can see a 4-hour imbalance was created that we can take if the price hits the zone. I also added some cushion to the entry and the SL. I'm not 100% sure this trade will go to our favor, no one does. this is a probability game. use proper risk management, I recommend 1%
$SHOP Possibly Topping Out$SHOP Possibly Topping Out - Tagged Upper Target
Left open gap down around $660 - this would be a ideal short target near term
No position and definitely a risky short...but I could see this being the near term top for SHOP today. It could use a healthy pull back / cool down over the next couple weeks.
Educational, not investment advice.
