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Shopify

Confirmation of Bullish Uptrend A few days ago I had posted my 1st ever idea and I feel I could have explained in much greater detail while providing better supporting evidence. I lacked conviction in my last post and im 80% confident now in my analysis (If youre 100% its clouded or you just a liar). So getting to it the 1st green arrow far left is the last time it traded up to its ath and theres some very key details that i think need to be noted here. "no mans land" SOLID BLACK LINE HORIZONTAL CHANNEL BELOW MOST RELEVANT SUPPORT as i call it has great historical significance price action was noticeably stronger on the strong move up while rejections/downtrends saw gap holes and no established value. The purple box is what i percieve to be establishment of Mr. No Mans worth and also confirmation that his land is worth something now (excuse the goofy shit buts its how my mind makes this easily retainable) the green box that follows is the 1st and earliest pre confirmation of whats to come. As of now that bottom edge of consolidation is holding and doing so above values that had most recently got that rejection hotline. In an amendment to my 1st idea i went on to conclude that i see it sitting on its previous most generally accepted trend upwards too which i have added and additional line creating what i believe to be bottom end consolidatioin channel where SHOP gets gassed up before taking off like a bloody piss missle. I would go on to offer explanation but im lazy tired and gotta go work in a few hours but ill say this much...take the above concept and reapply where it fits the narrative of the trend and it becomes fairly clear imo INDICATORS ARE USEFUL HOWEVER I FEEL MY MIND IS MORE USEFUL I KNOW I CAN TRUST IT AND IVE HAD THIS SAME CHART NOW FOR MONTHS...ITS COUNTER INTUITIUVE BUT IM THAT LAZY I DONT WANNA KEEP USING THE DAMN INDICATOR MAKE IT ONCE AND ADD ONLY WHEN THE FUTURE DEMANDS SO I LOOKED AT THAT PINE THING AND I SEE A BIG BILLBOARD "DISTRACTION" WE DONT MAKE TOOLS TO READ A BOOK WE LEARN TO READ THE TOOL IS JUST AN ILLUSION OF KNOWLEDGE shop pop top chop shorts boutta get that lop chop
NYSE:SHOP
by Heena-Mocken
2
SHOP:Head & Shoulders (with a bearish flag on the shorter term)Id initiate a short/bearish position if it breaks that support (black) come next week, the stocks trading at an ATH, Zacks says it has an insane trailing-twelve-months P/E of 277.63X, comapred to the industry's 30x. The head and shoulders is a red flag, and a bearish flag can be drawn easily, with the line to the right shoulder from the head being the flagpole. A death cross just occured too (the 25 day MA slid under the 100 day MA). While I dont usually use MACD, it slid under the signal line too. So many bearish flags.. Tell me what you think, like to spread the message, itd mean a lot :) AMA and Ill def respond
NYSE:SHOPShort
by ReedusFeleedus
3
Support and Resistance for SHOPThe dashed lInes repersent some weaker support and resistance where I expect some price reactivity. The solid lines are historical supports and I expect for rejection or larger moves to take place off of. Lows have been swept up last week with large volume which could be a combination of short covering or confident buyers adding to their position. This is significant because it shows that despite the markets downturn, there is still some bullish activity in the stock. This stock has a beta of 1.56 so it will be generally more prone to market volatility. After a worse than expected Earnings report coming in at .99 a share (1.24 expectation) the stock corrected from its pre earning run up. From here a full retrace to 1204 which was a generally accepted price between buyers and sellers is possible. There is also the possibility that price runs back up to the gap at 1322-1335, this could be a very reactive area. Sitting under the December highs I would say that there isn't much of a bull bear bias for this stock quite yet as the market corrects and with the bad earning's report. Note that while Shopify is a leader in it's category- companies like e-Bay, Amazon, and Walmart all offer integrated e-commerce. Furthermore BigCommerce now offers their sellers a chance to directly market and sell their products on the Walmart Marketplace which could be huge for the brand.
NYSE:SHOP
by crawfordpaul
2
SHOP - Nice bounce- going to $1460If you saw my previous post "SHOP- The Big Picture" then you would see that SHOP has bounced at one of my trend lines higher than I expected. I have followed this stock and made a lot of money on it since the $200's. I really think after Friday and the bullish close that we are going to $1460 were there will be resistance. Can we break through the 52 Week High recorded recently? That will be a major test. If it does pass $1500 the next peak will sell off so be aware of that.... GL!
NYSE:SHOPLong
by sid72
SHOP - The big pictureShop is having a great run, but a pullback is in the near term whether after even a higher spike on earnings or prior to earnings . These are the long term trend lines where the bounce from a pullback has happened over the long haul. I feel that somewhere between 1250-1300 will be the next bounce. Someone posted that it will pullback over 50%????? ah NO WAY! Even in COVID the lowest percentage lost was 44%. The only way that will happen again is in a market crash. So this is the big picture..... GL!
NYSE:SHOPLong
by sid72
4
SHOP Short going into EarningsNYSE:SHOP has showed weakness in its consolidation and appears to have distribution of shares taking place. The volatility is evident in its volume and jumpy prices overnight and otherwise. It closed above its weekly value and short 2 weeks before earnings makes sense due to the likely increase in option premiums. While the market Shopify covers has become saturated and profitable, if there is anything less than expected earnings reported a short now could be a nice leg into a longer term position. My two short term targets are on the chart one at the bottom of it's trading range and one right above an area I expect to hold some nice liquidity. My long term target (post earnings) would be closer to the November highs for Shopify.
NYSE:SHOPShort
by crawfordpaul