Nice head and shouldersDespite some pressure by ma50, BB and RSI, this pattern may play out.
Trade safe.
SHOP trade ideas
Shopify long ideasShopify (SHOP) potential long play
The e-commerce company rose nearly 5% after being upgraded to buy from hold by Deutsche Bank, which said brands are growing increasingly interested in Shopify.
Price action via the weekly chart view has formed an inverse head and shoulders pattern, testing the neckline area $43-44. A break above could open the door for a fast move towards $55 and then the target area of $66.
$SHOP Inverse head and shouldersReal nice inverse head and shoulders here on Shop with a higher right shoulder. Rising momentum and volatility.
SHOP - Ready to trend soon?SHOP had been building a rounding base for the past 9 months with 2 (failed) attempts to break it's neckline @ 45.30. The stock finally had a Golden Cross a few days ago on 18 Jan, further solidifying that it is bottoming out.
Even after golden cross has occurred, some stocks can continue to remain volatile within a range for another 2 or even 3 months. Hence a better time to enter long is to wait for a break above a significant neckline (in this case 45.30).
The aggressive trader would enter as the stock starts to break above the neckline (entry 1) although there is a chance this could be yet another false break (but with diminishing odds as the moving averages are now aligning to the upside).
A more conservative trader could wait for further upside momentum by waiting for the 1st pullback above the neckline, and then enter only when the stock starts to break above the last pivot high (entry 2).
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
ShopSuper exciting chart here. Personally I love these setups! This has a monster channel, almost lookin like an inverse head and shoulders within this choppy range. We had 2 daily wicks to 45.30. We had some daily candles that close at 41.77 and 43.25.
This gives a big range of chop so scalping an entry could be a little less clear. Ultimately piping above that 45.30 would be the safest entry upon a rip up we could play the push and then look for a pull back backtest of this range.
If I was going to try to scalp the entry anticipating a breakout of this range, I think finding support for a day or 2 on top of 41.30 could be a play, as well as a potential pull back and hold of 40-39.60 as a dip pull back level
This could have room to test 51.50 in coming month as long as markets contiue on the bullish path we are paving
Another come backPrice appears to be forming an inverse HS. I will take a few weeks more to complete the pattern, but you can start with a small position and add while the pattern is shaping out.
Shopify: Shopping Spree 🛍️The Shopify stock is currently wandering off to a shopping spree in the South and could get dangerously close to the alternative scenario, if it crosses the support line at $32.35. This would implicate further downward pulses until the turquoise wave alt. B hits its low. Primarily, we expect the course to get back in the saddle to exceed the resistance line at $45.43, which should be followed by the completion of the pink wave (A).
weeklyprobably a long term idea but over 46 has a lot of run way in the future. potential inverse head and shoulder set up. bottoming process.
Old shop analysis still practicalI did this way back in late May/early June for option plays on Shopify. It's still relevant.
SHOP - Reversal Time by Inverted Head and Shoulders?NYSE:SHOP has been down 87% from its highest peak at $ 176.29 per share to $ 22.63 in a year (lowest price at $ 22.63 was hit on W1 Oct 2022.
In Weekly chart, Shopify seems going to form an Inverted Head and Shoulders with estimated neckline at $ 44.50.
Even though it is still uncertain whether it will form that pattern or not.
But, if we take a look at another Indicator, say Stochastic:
The shape of the stochastic curving pretty good with a potential Golden Cross above the value of 50 (which i consider one of the best opportunity for swing entry if you have a correction followed by Golden Cross of Stochastic above 50).
If this week confirm that the Stochastic %K is crossing up Stochastic %D, I believe that the price will continue breakout the neckline.
Last Day candle was breaking out the EMA200 (4H Chart):
If you do not wish to wait the confirmation in the weekly timeframe as I mentioned above, you can use the EMA200 (4H Chart) as your stop loss target.
My preferred last support will be the Quarterly CPR with $34.35 - $34.59 range.
Happy Trading!
Disclaimer is always ON.
Currently I do not have possession of NYSE:SHOP stock in my portfolio.
SHOP, 10d+/-31.81%falling cycle -31.81% more than 10 days.
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This data is analyzed by robots. Analyze historical trends based on The Adam Theory of Markets (20 moving averages/60 moving averages/120 moving averages/240 moving averages) and estimate the trend in the next 10 days. The white line is the robot's expected price, and the upper and lower horizontal line stop loss and stop profit prices have no financial basis. The results are for reference only.
Smile it's going to be a NEW YEAR!Happy New YEAR! Let's bring in the new year with an inverted head and shoulders! Let's hope we break out of the downward channel to come up and at least test the shoulder line. Then to top off are 2023 year we hope to breakout of the BIG SMILE this chart has giving us. GL to all and hope your trading for '23 is spectacular.
Potential $shop swings if it gets to the $30 zone$shop is currently forming a very clean inverse head and shoulder pattern that lines up with the .707 fib retracement on the daily/weekly timeframes. If we get to that $30 level, I'll be watching for a hold and signs of reversal.
SHOP Bye ByeLooks like SHOP is breaking down from this Head and Shoulders Pattern here.
Send it down to the bottom of this channel!
SHOP ANALYSISHello ladies and gentlemen, according to my graphical analysis of SHOP stock, we note that since MAY 12,2022, SHOP has entered in a Trading Range Zone until today, I recommend to avoid the sell of this stock at the present time, and if even a break in the resistance level , I would recommend to keep this stock in portfolio.
Shopify: Shop until you drop 🛒Shopify is currently on the verge of dropping further South to complete the turquoise wave B in the middle of the turquoise target zone between $34.35 and $28.22 before turning the course back North to exceed the resistance line at $45.43 in order to complete the pink wave (A). Our alternative scenario implies an earlier surpassing of the $45.43-mark instead of dropping into the turquoise target zone.
Way oversold, not too late to enter! TSX:SHOP is looking excellent for further upside. As inflation continues to drop, expectations for rising rates will also continue to drop. This is bullish for high growth stocks like SHOP. We are now above a key level (200 Day SMA), which often is the beginning of a technical bull market. Although I started my position a month ago, this stock is still tremendously oversold on the longer term charts and still has a lot of long-term potential for growth. I believe it's one of the most unfairly treated stocks this year by far on the TSX. The risk/reward looks favourable over the coming weeks and months, and the downside risk is now much lower than when inflation was continuing to climb every month.
SHOP - formed a baseAfter falling more than 80% from it's peak of 176.29 on 19 Nov 2021, SHOP began to range sideways since May 2022, forming a rounded base. There was an attempt break up the neckline @ 45.43 on 11 Aug 2022 but it failed after filling a prior gap that happened on 4th May.
It is now close to making another attempt at breaking up and there is a chance it could stall at the neckline (again). However, now that it is crossing above its 200 day moving average, its odds of breaking up successfully in the near future has increased.
Long the breakup with an initial stop just slightly below it's 20 or 50 day moving average.
Its momentum is strong as long as it continues to trend up along or above it's 20 day moving average.
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
Shopify breakout long!Shopify looks like it is breaking out of a long-term base, this is the price action from the TSX, slightly different on the U.S. side. Moved above the 30 week average on very high volume today.
Shopify long and break outThis is an amazing company with an incredible mission, the market cap has shows a trend reversal, which given me the indication that we are getting ready for a new bull run.
Shopify Inc| Bullish Trend | 4 Hr | 25/11/22
Shop is in the bullish trend.
It is not a financial advice.
