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SHOP

$BABA Market Correction after fear based news$Alibaba has been a household name in my house for 10 years, i use to import e-cigarettes back in 2009/2010 from them before vaping was a thing. Most people are just hearing about this Giant company with a weird name recently. This is the largest E-Commerce in the country with the largest population, along with monster cloud services, social media, Financial firms, transportation , and the list goes on, along with brick and mortar stores and package delivery. People like myself are able to create product lines for our barbershop with Alibaba and network with the world. 80% of what you see on Amazon comes from an Alibaba seller via Oem or drop shipping which $shopify is benefiting great from Alibaba. I am no pro hardly should be giving advice but i do know this company more than what i’ve I heard from someone else and 100% believe this will see 4 figure numbers before we’re halfway through the decade.
NYSE:BABALong
by WickedTradez
SHOP - Head & Shoulders but with strong volume on right shoulderVery apparent head and shoulders pattern but with unusually high volume for the right shoulder. Typically H&S have less volume on the right shoulder which demonstrates a lack of bullish enthusiasm. This makes me somewhat skeptical of a strong neck-line break and flush to the downside. One could make an case that what we have here is the fabled double head & shoulders pattern, which I read about in Technical Analysis of Stock Trends Vol 11 and have seen play out a few times. The pattern has two left shoulders and two right shoulders, basically the difference is that when the neckline breaks, price lazily breaks down. Ok, I'm rambling. Volume at price shows a cluster of volume starting above $300, which will take some effort to churn through. That said, each time we get to this ~$285 level we're met with strong volume, this leads me to believe that we will make additional attempts at $300, but, due to the volume traded overhead. I'm skeptical that we'll push much past $300. So, for the next week or so, I'll maintain a neutral sentiment for swing traders as I believe the price may channel sideways. Whether we ultimately break down or break above $300 will depend on the overall market. Feel free to leave comments, questions, observations or other in the comment section.
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by danbeaulieu
A stock with a higher price to earnings ratio than Shopify? I'm sure this company has a lot of really compelling reasons why they're going to make their valuation make sense at some point in the future but right now the company is worth 67% more than $SHOP which is arguably the most overvalued stock with a market cap above a billion. My guess is we test $60 soon, bounce off $60 to around $65 and then proceed lower possibly all the way to $45. The company is raising guidance, but there is incredible uncertainty regarding their value proposition. We recently breached a volume support level at $75. Buyers are exhausted. Another scenario: we could bounce off the $70 level but then quickly move lower directly to $50. I'm 70% sure this stock will be at least 20% lower in the next three months.
NASDAQ:GHShort
by decentral_vision
SHOP below trend line and 10/50 SMAShopify is looking pretty bearish to me. Notice, it is trading below its big up trend line, below its 10 SMA (orange line), below its 50 SMA (blue line), and looks to be heading for the 100 SMA (purple line) as well as the next major support area (dashed line). I am going to stay neutral for the time being, but will keep a close eye on it. If SHOP can't bounce off the 100 SMA and/or that big support area, then I will enter a short position. After the huge run-up SHOP had, a big correction would not be surprising at all.
S
by Bankuur
2
SHOP - Daily - Inside candlestick reversalIf you follow the stock market, and the big names in it, you will know that Shopify has been on a rampage. But, SHOP has recently pulled back into a zone that I think counts as solid support. In doing this it made an inside candlestick pattern yesterday. Inside patterns are tricky ... they can be continuation or reversals. However, this particular inside candlestick is right at good support (what I think is good support anyways), and it had good volume. This tells me that this particular inside pattern is leaning to to the reversal side for SHOP. I will keep my eyes open and look for a close above the big candle. If it does that, I may enter long and ride it up to its all-time high.
SLong
by Bankuur