SHOP trade ideas
SHOP - consolidating here before moving to $750?Interesting to see this one catching my eye earlier in the week and seeing a bullish continuation. Something is happening with Shopify and the charts are pointing to positive uptrend. This is trading at $600 from highs of 1600. Do we expect to hit 1600 again? not anytime soon, but this is consolidating here at 600. and potentially lining up for a run back above 700.
Absolutely Wild Sell Off For Shopify (NYSE: $SHOP)! 🛍️Shopify Inc., a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company's platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing. It also sells custom themes and apps, and registration of domain names; and merchant solutions, which include accepting payments, shipping and fulfillment, and securing working capital. The company was formerly known as Jaded Pixel Technologies Inc. and changed its name to Shopify Inc. in November 2011. Shopify Inc. was incorporated in 2004 and is headquartered in Ottawa, Canada.
SHOP Long off Monthly DemandAs is with most stocks right now, SHOP is returning to the former breakout area from march. The market does this time and time again. This area is called Demand. The first time back to Demand typically results in a nice rocket ride. While the high time frame demand zone is the most ideal place for a long, It is also possible that shop bounces from this area which is the market maker discount zone. If they want a deeper discount they will visit the equal lows indicated by the pivot markers or somewhere nearby in the demand zone before taking off.
$SHOP 30m and D linked**$SHOP** This one looks a little tricky but my heart and mind are calling it against the algo flow... Algos have $SHOP going long. I think the bull flag failed after the gap down and created bear flag with a green bar where everyone is getting caught up in. You can have a green bear flag. Then there is a head and shoulders inside the flag. I think we will rise just not yet. I have $SHOP breaking down to 690s tomorrow then I have it going further downside into the right shoulder of an inverse head and shoulders. IMO we break to 690s tomorrow then we dip into the inverse head and shoulders bounce to retest the neckline then drop into the right inverse shoulder at 581-561. Then we start to rise out of that and head for the 800-900s.
Shopify (SHOP) ... Get your cart(s) readyProbably not a bad purchase around the $550 area given the recent 2/3 haircut.
Traded at $585 this morning.
Lets see if we get there first.
Not investment advice. Do your own due diligence
S.
Shopify Inc - LongBullish Indications:
Higher highs after series of LHs & LLs
Trend line resistance break
Flag pattern formation
AB=CD
Historically this pattern is being repeated and showing good bullish trends (highlighted)
So based on all these parameters I think it will go long
SHOP to $800As bullish momentum continues in the market it's ready to go higher and the target is $800. Its holds strong support at this level.
SHOP puts for day tradesDouble top here on SHOP can possibly see a bounce up to $708-$710 levels before coming back down to complete the pattern.
$SHOP Key Levels, Analysis, & Targets REQUEST$SHOP Key Levels, Analysis, & Targets
So shop has been obviously selling off pretty hard since December. I would expect to see some choppy price action between 530 and 840. The MacD on the weekly doesn’t really support a huge up move from here just yet… I would expect to see a while of consolidation before any directional move...
I would keep an eye on the Daily and the Weekly macD.
The daily looks like it’s getting rejected from crossing up so I’d be looking down to the 530 level. If that level holds then I would start to add a little bit… If not, there’s not a whole lot of support until you get to around 305.
305 is actually also the covid low.
Also keep an eye on the 2019 top @ 404… this is an important level to hold.
The only places I would buy are the support levels in green… and they also become sell levels on the way up…
I hope this helps… sorry I felt a little bit rambly here…
IF you don’t have a position I would personally wait… but if you do use the levels in green to add and bring your average down.
I’m not in ANY way suggesting we get that low, but these are the key levels to stick too no matter what happens…
Also, this is in logarithmic mode...
By Request for @janatztxx
SHOP Ready for Breakout or PullbackSHOP run bullish momentum recently and has been consolidating for more than 4 trading days and volume is decreasing. If the overall market remains bullish it could move higher else we will see a little pullback before another bull run.
Up Trend for shopifySentiment : Netural
Trend : mixed
Fundament : strong
Opinion : positive
Trend line breaks out
High volume activity
Bullish harami chart patern
Next target : 1100 $
Stop loss : 798
$SHOP sign of reversal here?we have to confirm our support , to see the first sign of reversal, which we have to pass our first resistant , then the second resistant where we see a massive confirmation to bullish continuation
SHOP (1D) - Dead Cat bounce coming ? Hi Traders, its alredy some time since my previous Bearish analysis for Fintech and high Growth companies.
Seems like we got first impulse on 1D chart. RSI is positively COnverging. What could mean a retrace after huge DIP for many stocks around (MINUS) 50 to 90% from ATH.
Yes, this will be probably quick / sharp retrace, most of the retail will get in too late just on top of Wave B. Be prepared and always use stop-loss.
Stay safe (sane) and enjoy the ride ;)
Previous idea for SHOPIFY
SHOPIFY - BULLISH SCENARIOShopify Inc. is preparing for a test of the first major resistance level located at $710.
Successful breakout will push the price to the 2nd resistance at $800.
On the other hand, if the attempt is not successful, we may witness a retest of the $520 support.
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$SHOP with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $SHOP after a Negative Under reaction following its earnings release placing the stock in drift D.
Shopify - CAD - Crucial ResistanceShopify - CAD
In Crucial Resistance
Should trade above 707 on a daily timeframe
can expect a short-term target of 10% up move.
