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SHOP

BIG Money Accumulating SHOP shares? Wyckoff Accumulation FormingOpposite the Wyckoff Distribution is the Wyckoff Accumulation. This is a sign of buying from big money. It shares many elements of the distribution and is broken into 5 phases. I will briefly outline them below... =================== Wyckoff Accum Phases Phase A: Phase A marks the stopping of the prior downtrend. Up to this point, supply has been dominant. We should see volume taper and spreads widen (price-volume divergence). Big money will scoop up shares to create the AR on increased volume. A trading range is created using SC and AR. Phase B: Is the actual accumulation phase. Prices are low and easy to grab. Expect the price to ping pong within the trading range as big money optimizes their average. Expect many stop hunts and false breakouts to free up shares. Phase C: It is in Phase C that the stock price goes through a decisive test of the remaining supply, allowing the “big money” operators to ascertain whether the stock is ready to be marked up. The shakeout is the optimal entry point but it does not always occur. Phase D: If we are correct in our analysis, what should follow is the consistent dominance of demand over supply. This is evidenced by a pattern of advances (SOSs) on widening price spreads and increasing volume, as well as reactions (LPSs) on smaller spreads and diminished volumes. During Phase D, the price will move at least to the top of the TR. LPSs in this phase are generally excellent places to initiate or add to profitable long positions. Phase E: In Phase E, the stock leaves the TR, demand is in full control and the markup is obvious to everyone. =================== I believe the following points are in line with the phases above: Decreasing volume and a widening spread before the start of the range. It is then followed by buying on increased volume. We have already seen Phase A. Phase B is the accumulation. Note the increases in volume on the up moves but decreases in volume on the down moves. I think Phase B is mostly over if it has not been completed already. Phase C will often have a shakeout. SHOP reported earnings and dumped to the lower end of the trading range. Although it did not break the range, I think this was the anticipated shakeout. We have since climbed higher on average volume and have now broken the upper range. It is reasonable to assume we are in or transitioning to phase D. It is important that we see some form of consolidation to confirm the upward move. If we do not, we could see more tests of supply and moves back into the trading range. We are currently above the 50 Dynamic Moving Average but below the 100 EMA. This shows that the medium-term trend is flipping bullish but the longer-term trend is still down. The vol osc is also showing increases in volume supporting the move upward. Higher time frames also indicate that this trading range formed at previous support. Overall, I think the stars are aligning to take this stock higher. Eager to hear your thoughts.
NYSE:SHOPLong
by Decam9
4
SHOPIFY approaching the end of its consolidation. Target $60+.Shopify (SHOP) has been consolidating within an Accumulation Zoen since the May 11 Low. At the same time the 1D RSI has been on Higher Lows indicating a hidden bullish sentiment. The last time we saw that recently was during the September 24 - November 29 2019 Accumulation Phase, which was also on 1D RSI Higher Lows. A strong rally followed after the pattern broke to the upside (came after the price broke above the 1D MA50 (blue trend-line)). Currently, the bullish targets are the upper Fibonacci retracement levels, which as you see they all match the Lower Highs during the price correction. We are aiming for $60 on the short-term. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
NYSE:SHOPLong
by TradingShot
3
$SHOP Rectangle pattern trading rangeNYSE:SHOP The price has formed a Rectangle pattern and has been in a trading range since May 2022. A close above $41.85 will confirm the pattern's breakout, with a target price of $51. 40 . A close below $28.90 will confirm the pattern's breakout, with a price target of $21.75. Note that not every price target is met. $SHOP remains in a downtrend. A close above $79.00 will confirm a trend reversal, and the price will likely keep moving to the upside.
NYSE:SHOP
by SanchezAxline
One for the shopping list?Shopify - Short Term - We look to Buy at 36.75 (stop at 31.65) Previous resistance level of 36.75 broken. Price action has formed a bullish ending wedge formation. We look for a temporary move higher. Preferred trade is to buy on dips. Our profit targets will be 51.12 and 70.29 Resistance: 41.37 / 51.12 / 70.29 Support: 36.75 / 30.02 / 29.72 Disclaimer – Saxo Bank Group. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis, like any and all indicators, strategies, columns, articles and other features accessible on/though this site (including those from Signal Centre) are for informational purposes only and should not be construed as investment advice by you. Such technical analysis are believed to be obtained from sources believed to be reliable, but not warrant their respective completeness or accuracy, or warrant any results from the use of the information. Your use of the technical analysis, as would also your use of any and all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features. Please also be reminded that if despite the above, any of the said technical analysis (or any of the said indicators, strategies, columns, articles and other features accessible on/through this site) is found to be advisory or a recommendation; and not merely informational in nature, the same is in any event provided with the intention of being for general circulation and availability only. As such it is not intended to and does not form part of any offer or recommendation directed at you specifically, or have any regard to the investment objectives, financial situation or needs of yourself or any other specific person. Before committing to a trade or investment therefore, please seek advice from a financial or other professional adviser regarding the suitability of the product for you and (where available) read the relevant product offer/description documents, including the risk disclosures. If you do not wish to seek such financial advice, please still exercise your mind and consider carefully whether the product is suitable for you because you alone remain responsible for your trading – both gains and losses.
NYSE:SHOPLong
by Saxo
SHOP 18% rip since last post 2 days agoSHOP nice rip from bottom of base to top of base with good volume too. Close above 40 is really good on it. 41.40 is the top of the base. Once that breaks, the actual breakout is going to start. I am not really sure if we breakout of the base since ES is also at a critical resistance area around 4000. Can be played both ways on it. Short here with 42 as SL or long on breakout. Mentioned about SHOP breakout when it was back at 34 2 day ago. Link is attached below for that post. UP 18% in 2 days. Calls are up 700% on original trade and rolled it up several times which are up 500% too. Lets see if we can get another one of such trades here.
NYSE:SHOP
by savage_Trader
Shopify Sale? Shopify Short Term We look to Sell at 38.34 (stop at 41.99) Trades with a bearish descending triangle formation. The medium term bias remains bearish. There is no indication that the selloff is coming to an end. The bias is still for lower levels and we look for any gains to be limited. Preferred trade is to sell into rallies. Our profit targets will be 29.94 and 24.29 Resistance: 39.50 / 74.75 / 89.30 Support: 29.85 / 13.20 / 4.00 Disclaimer – Saxo Bank Group. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis, like any and all indicators, strategies, columns, articles and other features accessible on/though this site (including those from Signal Centre) are for informational purposes only and should not be construed as investment advice by you. Such technical analysis are believed to be obtained from sources believed to be reliable, but not warrant their respective completeness or accuracy, or warrant any results from the use of the information. Your use of the technical analysis, as would also your use of any and all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features. Please also be reminded that if despite the above, any of the said technical analysis (or any of the said indicators, strategies, columns, articles and other features accessible on/through this site) is found to be advisory or a recommendation; and not merely informational in nature, the same is in any event provided with the intention of being for general circulation and availability only. As such it is not intended to and does not form part of any offer or recommendation directed at you specifically, or have any regard to the investment objectives, financial situation or needs of yourself or any other specific person. Before committing to a trade or investment therefore, please seek advice from a financial or other professional adviser regarding the suitability of the product for you and (where available) read the relevant product offer/description documents, including the risk disclosures. If you do not wish to seek such financial advice, please still exercise your mind and consider carefully whether the product is suitable for you because you alone remain responsible for your trading – both gains and losses.
NYSE:SHOPShort
by Saxo
Down from over $1000 to $300 (SHOP)Shopify Short Term We look to Sell at 329.01 (stop at 369.57) Prices are extending lower from the bearish flag/pennant formation. The medium term bias remains bearish. There is no indication that the selloff is coming to an end. The bias is still for lower levels and we look for any gains to be limited. Our profit targets will be 161.97 and 119.18 Resistance: 330.00 / 405.00 / 1042.00 Support: 196.54 / 133.43 / 100.00 Disclaimer – Saxo Bank Group. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis, like any and all indicators, strategies, columns, articles and other features accessible on/though this site (including those from Signal Centre) are for informational purposes only and should not be construed as investment advice by you. Such technical analysis are believed to be obtained from sources believed to be reliable, but not warrant their respective completeness or accuracy, or warrant any results from the use of the information. Your use of the technical analysis, as would also your use of any and all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features. Please also be reminded that if despite the above, any of the said technical analysis (or any of the said indicators, strategies, columns, articles and other features accessible on/through this site) is found to be advisory or a recommendation; and not merely informational in nature, the same is in any event provided with the intention of being for general circulation and availability only. As such it is not intended to and does not form part of any offer or recommendation directed at you specifically, or have any regard to the investment objectives, financial situation or needs of yourself or any other specific person. Before committing to a trade or investment therefore, please seek advice from a financial or other professional adviser regarding the suitability of the product for you and (where available) read the relevant product offer/description documents, including the risk disclosures. If you do not wish to seek such financial advice, please still exercise your mind and consider carefully whether the product is suitable for you because you alone remain responsible for your trading – both gains and losses.
NYSE:SHOPShort
by Saxo
SHOPIFY - Top-Down Analysis!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst. WEEKLY: Left Chart SHOP is approaching a demand zone so we will be looking for buy setups on lower timeframes. H4: Right Chart SHOP is forming a channel in red but it is not valid yet. So we will be waiting for a third swing to form around it to consider it our trigger swing. (projection in purple) Trigger => Waiting for that third swing high to form then buy after a momentum candle close above it. (gray area) Meanwhile, until the buy is activated, SHOP can still trade lower inside the demand or even breaks it downward. Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
NYSE:SHOPLong
by TheSignalyst
2
SHOPIFY Bottom PotentialAn upward channel can be drawn from a strong trend line point on SHOPIFY It provides a chart like this, showing a clear top, and also a potential bottom that aligns with the 4.618 fib An attempted support can be seen to have formed at 2.618 (yellow) This leaves 4.618 as a bottom point, which has also been seen as a bottom in the past (green) Two bullish chart patterns can be seen on chart along with one bearish Ascending and Descending wedge both acting bullishly Followed by a Double top, considered a bearish pattern
NYSE:SHOP
by Bixley
2