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SHOP Long trade ideaSpotted a strong reaction on Shopify as price tapped a key support level and bounced impulsively to the upside, even leaving a gap, solid confluences that point toward potential continuation. What adds weight to this setup is that the price has reclaimed the 10 EMA, which typically signals momentum shifting back in favour of the bulls. That said, one concern here is that volume appears a bit dry, which makes me a bit more cautious on this trade. Trade is placed, now it's just about managing risk and letting the setup play out.
NASDAQ:SHOPLong
by GonzooTrading
Double bottomDespite the strong quarterly results, the stock was penalized due to a lower outlook for Q2, a consequence of uncertainties surrounding tariffs, leading to a 20% decline. The price is reaching the weekly 200-day simple moving average (blue line) for the second time, coinciding with a long-term support level (also marked in blue), initiating the formation of a double bottom pattern. The first target is the light blue resistance area around $130 (+30%), where a potential confirmation of the double bottom could occur with a breakout of the neckline, followed by a further 25โ€“30% increase
NYSE:DECKLong
by balinor
$AMZN Weekly Setup โ€“ Watch the $193 GapHere's what we're seeing on the weekly chart: Price recently hit the 61.8% fib retracement from the all-time high to the April 2025 low Sitting on strong support from the July 2024 high A gap at $193 is just below current levels If the gap closes and holds, we could see a continuation of the recent move higher โ€” setting up a powerful weekly higher low. This could offer broader momentum in the large-cap tech space. NASDAQ:AMZN
NASDAQ:AMZN
by disciplinetradingteam