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Shopify

$SHOP Stock Shows Promising Breakout with Upside Potential Introduction Shopify Inc. ( NYSE:SHOP ) has been garnering significant attention in the stock market as it breaks out of multiple weeks of consolidation. This Canadian e-commerce giant has witnessed remarkable growth over the years, and recent technical analysis suggests that there is substantial upside potential for the stock. In this article, we will explore the factors behind Shopify's breakout, examine the potential for further gains, and discuss a potential entry point for long positions. Shopify's Breakout from Consolidation After several weeks of trading within a tight range, Shopify's stock finally managed to break out above its consolidation pattern. This breakout indicates a significant shift in the stock's price direction, and technical traders have been quick to take notice. The breakout is a signal of potential upward momentum, with the stock showing strong bullish sentiments. The Upside Potential With the breakout from consolidation, Shopify's stock now has ample room for further gains. As the company continues to innovate and expand its e-commerce platform, it is attracting more businesses and consumers to its ecosystem. The ongoing shift towards e-commerce and the rise of online businesses have provided a tailwind for Shopify's growth, and this trend is expected to continue in the foreseeable future. Furthermore, Shopify's financial performance has been impressive, with consistently robust revenue growth. The company's strong quarterly results have reassured investors of its long-term sustainability, which has contributed to the positive sentiment surrounding the stock. As Shopify expands its international presence and introduces new features and services, it is likely to attract more merchants and drive further growth. Waiting for a Long Opportunity While Shopify's breakout presents a compelling opportunity for traders and investors, it is crucial to exercise patience and wait for an optimal entry point. The ideal scenario for long positions would be a retest of the weekly breakout, around the $67.3 level. This level would act as a support level, providing a more attractive risk-to-reward ratio for long positions. By waiting for a retest, traders can confirm that the breakout is genuine and that the stock has the potential to continue its upward trajectory. Timing is crucial in the stock market, and entering a position at the right moment can significantly impact potential gains. Conclusion Shopify Inc. ( NYSE:SHOP ) has captured the attention of the market with its breakout from weeks of consolidation. The stock's impressive upside potential is driven by the company's continuous growth in the e-commerce sector and its strong financial performance. As the online business landscape continues to expand, Shopify is well-positioned to capitalize on this trend. For traders and investors considering a long position in Shopify, it is essential to wait for an opportune moment. A retest of the weekly breakout around the $67.3 level provides a compelling entry point with a favorable risk-to-reward ratio. As always, it is crucial to conduct thorough research and consider market conditions before making any investment decisions. While Shopify's breakout presents an enticing opportunity, prudent risk management and disciplined trading strategies should guide all investment activities.
NYSE:SHOPLong
by GodwinAlgoKK
1
Breakout Trade in SHOPShopify is emerging from a beautiful Stage 2 base. SHOP is up more than 100% since the start of a year – a clear sign this is a market leader. Notice how volume is higher on the rallies up and lower when the stock pulls back. This is a subtle clue that buyers are in control and the smart money is building a position. The breakout on Thursday came on 2X its average daily volume and the stock closed at the high of the candle – both good signs of a legitimate move. I want to see SHOP stay above the breakout level or, at a minimum, above its 21-day moving average (blue line on chart).
NYSE:SHOPLong
by rossgivens
SHOPIFY targeting 75.00It's been 10 months since we last analyzed Shopify Inc. (SHOP) and called for a $60 target (see chart below): The stock recently hit that level and we now see that it's trading within a Bullish Megaphone/ Channel Up combo pattern. With the 1D MA50 as its Support and recent strong fundamentals, we now set the next medium-term target at $75.00 to fill Gap 3. The 1D RSI has been on a Higher Lows trend-line, clearly indicating the most optimal buy entry within the pattern. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NYSE:SHOPLong
by TradingShot
1
$SHOP to move higher targeting $75, $100?NYSE:SHOP broke out of a 8.5 month inverse head and shoulders pattern back in January, then went back to test the breakout level as support and has now turned higher again. The first target for the breakout of this pattern would be $63.89, however, after we hit that target, I think we'll see a continuation of the trend higher and get to HKEX:75 level. And if it can flip the HKEX:75 level as resistance, I think it can get all the way back to $100. I do think $100 would be the top though as it would confirm resistance from the area it broke down from. Let's see what happens over the next 2 months.
NYSE:SHOPLong
by benjihyam
Amazon set to BREAKOUT or FALLOUTAs we analyze the 4 hour chart of Amazon I am honestly indifferent on the stock and would not be trading or buying it right now as it seems "stuck to me" based off these channels... When we look at the "macro" blue channel it shows upside with price pointing to higher 130s... but it would be a very swingy ride there.. right now we are in the white channel which is also very swingy and large for a channel to trade but profit to be made if TIMING is right... I have fib levels listing this as a Wave 2 and looking for more downside, but will continue to watch if we are to breakout of the resistance.. until then I would stay bearish.
NASDAQ:AMZNShort
by UnknownUnicorn910751
Shopify - It's Bear *and* Bull Hunting SeasonBefore Shopify's 10:1 split, it was trading for $1,800 USD. Notable because it was the Toronto Stock Exchange's biggest stock, trading over $2,000 CAD. This was the kind of stock that all the eyes used to be on. The company processes payments on the Internet and the work from home lockdown glory days are gone. The next time we're all under house arrest will be because the governments want to act like the Chinese Communist Party; the priority won't be keeping people stable and placated like it was in 2020. Things will be scary, and so the fundamentals for this company will never be as good as they were before. That being said, it looks like we're about to head/already heading into what I believe is a tech bear trap before Nasdaq goes big or goes home, a two-sided move which I outlined a few weeks ago: Nasdaq NQ QQQ - Reality Will Be a Tough Pill for Permabears Shopify is something to keep on your radar because, no matter how they file shelf offerings to dilute their share count and how that ought to affect share price because it's a really a function of marketcap, Shopify is the kind of thing that likes to go up and down 10 or 15 percent in a day, and when it does go, it has significantly major upside potential, which you can see on weekly bars: And look, I get it, $45 --> $30 --> $115 is a real too good to be true sort of call, but it's not without its principled rationality. After 179 trading days and 263 real days of consolidation, Shopify finally started to take out highs in the earliest part of '23. This comes after it took out significant long term lows in the October Low of the Year for indexes. These two factors combine to tell you that the algorithms no longer point down, but point up. It's only that there is the risk that the "up" peaked when the stops over $50 were taken and everything is going down for real now. I'm only partially psychic. You'll have to get Jamie Dimon and Ken Griffin to tell you the concrete manifestation of what's going to happen. But Shopify's price action is not that significantly different from what Netflix has done, except Netflix just never bothered to run the bottom and never really liked to go down, and has already gone up significantly. What bears are missing from their doom thesis is this: The markets will crash when the Federal Reserve pivots, not before. It's a "buy the rumor, sell the news" equation, my friends. They've been hiking for over a year, and long term, none of the big 3 indexes are actually bearish on monthly or weekly candles. What people don't realize is that everything is setting up for a situation where inflation appears to be waning and will continue to appear to be waning for the next few months, and it's because we're in winter. This apparently deflationary environment will set the stage for the narrative that leads us to Nasdaq 14,500+. Natural gas, oil, and gasoline will all supermooncycle in the summer because of significantly increased societal demand, and that means food, goods, services all go up too. And in the meantime, the Fed is going to continue to hike at least 25 bps a session. So they're going to hike and hike and we're going to walk right back into big inflationary numbers starting in late May and through July while the FFR is already too high. The Fed won't be able to start hiking 50 and 75 bps when we're already at 5.5% because the national debt is so super bloated thanks to the U.S. socialists spending trillions and trillions of dollars on so-called "stimulus," which really just amounts to raiding the Treasury and the future generations like pirates. And so, the Fed is going to be forced to pivot at the worst time: in the middle of inflation that was worse than 2022, and the two factors combined is what is really going to cause the big gap downs. And the gaps are going to run, because the Fed obviously won't be able to bail out the market this time, so there won't be any hopium for retail to huff. There are other things that can unfold geopolitically around the same time, like the collapse of Xi Jinping and his Chinese Communist Party, Russia defeating NATO in Ukraine, and large scale environmental disaster and significant genuine pandemic diseases that are beyond the control of the globalists and their technology. All of this combines to tell you that the dumpster the bears dream of is far away, which means that much higher prices are coming. It presents a death trap for people who are obediently following Discord signal groups, Zerohedge, Fintwit, and CNBC, instead of thinking for themselves, and an opportunity for the "few" who understand that "The Big Short" is being set up, and that "The Big Short" inherently means a run back towards high levels. So buy this coming dip, don't capitulate, and enjoy the fruit of the moon mission that is the biggest exit pump of all time. Just make sure you get out, take profit, and keep your risk light. You have to keep your eye on the Chinese Communist Party. It's been two weeks since the Lunar New Year and all the resulting travel stimulus from hundreds of millions of people being freed from months of house arrest have finished, and now there are reports that there are multiple significant mutations of Omicron SARS-CoV-2 emerging all over the world. Meanwhile, if you check Our World in Data or the other aggregators, you'll see that the CCP claims there have been 0.00 new COVID cases or deaths since roughly Jan. 6. This is obviously totally impossible. Not to mention the Communist Party is a chronic liar that only cares about its "stability" and isn't one bit concerned with how many people might die as it lies to the world and the Chinese people. All of this should tell you that the pandemic situation is volatile outside of China, and extremely dangerous inside of China. The situation could devolve at any time, and at any time you can be stuck on the wrong side of a gap. What you have to understand about the Communist Party and the globalist factors who have cultivated its methods and ways, who seek to export them globally for the unveiling of the One World Government/New World Order, is that the Specter of Communism's life's work is to destroy your life and to destroy humanity. No joke. Its fundamental wish and its fundamental goal is to ruin each and every person and each and every thing. And so, the test for all of Creation is whether you can evidence, with both your words and deeds, that you don't want the Devil Red, and instead you want to enter the future that is the resurrection of China's 5,000 year-old culture of Heavenly Dynasties. The choice is yours. It's your job to choose. It's my job to tell you these words.
NYSE:SHOPLong
by LordWrymouth
2
Shopify Potential for Bullish Continuation | 24th February 2023Looking at the H4 chart, my overall bias for TSM is bullish due to the current price being above the Ichimoku cloud , indicating a bullish market. To add confluence to this bias, price is along an ascending trendline. Looking for a buy entry at 82.87, where the overlap support and 61.8% Fibonacci line is. Stop loss will be at 72.84, where the previous swing low is. Take profit will be at 107.90, where the overlap resistance is. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
NYSE:SHOPLong
by FXCM
1
Shopify Potential for Bullish Continuation | 24th February 2023Looking at the H4 chart, my overall bias for TSM is bullish due to the current price being above the Ichimoku cloud , indicating a bullish market. To add confluence to this bias, price is along an ascending trendline. Looking for a buy entry at 82.87, where the overlap support and 61.8% Fibonacci line is. Stop loss will be at 72.84, where the previous swing low is. Take profit will be at 107.90, where the overlap resistance is. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
NYSE:SHOPLong
by Rockqet
4
$SHOP call 👀📈I've used a few tools and indicators to predict Shopify share price over the next couple weeks Not investment advice I believe SHOP is massively undervalued, with some exciting projects coming soon. We saw an ATH @ around $172 in Nov 2021, and since then the price has dropped around by over 4x less, to about $40. This is around $15 above the ATL. However, £SHOP is also vulnerable to external factors, and as we saw in the news, Russia has apparently attacked Poland, which could be massive news for the market - a lot of investors will get spooked and sell shares. Shopify relies on online purchases, so there is both an advantage and a disadvantage for them. Another factor I've spotted which I believe is great for the long term potential of $SHOP is the growth in ecommerce sales and the number of people starting ecommerce businesses. The recent downward economy has forced a lot of businesses to go online, growing the customer base and number of businesses that operate online. As we already know, ecommerce is booming already, but Statista predicts that global ecommerce sales will rise massively to over $8.1TRILLION! In 2021, this figure was just over $5.1trillion.
NYSE:SHOPLong
by nshah13
8
SHOP Inverse H&S Pattern and TargetInverse H&S pattern developed here. The price might shoot up another 48% from here to 72.85 level. The same pattern can be observed on several other stocks. Of course if price falls below 35.50, this idea will be invalidated. However, looking at the structure of the overall market, it seems likely that the price will keep rising higher in the coming days at least and this target can be achieved easily. A clear break out can also be seen from the neck level.
NYSE:SHOPLong
by angela_altair
SHOP Long as inverse H&S pattern and market structure in favorInverse H&S pattern developed here. The price might shoot up another 48% from here to 72.85 level. The same pattern can be observed on several other stocks. Of course if price falls below 35.50, this idea will be invalidated. However, looking at the structure of the overall market, it seems likely that the price will keep rising higher in the coming days at least and this target can be achieved easily. A clear break out can also be seen from the neck level.
NYSE:SHOPLong
by nawab36085