short term to 45 USDweekly falling wedge, weekly RSI divergence, short term back to the starting point of the wedge, 45 USD.
SHOPD trade ideas
This looks like a very Good ShortYou will find the answers on the Chart.
All those Buyers getting kicked by the Sellers (Wicks).
I am getting ready for a nice Short
SHOPIFY SHORTEasy monetary tightening, also bad fundamentals.
In this environment these types of stocks are going to get even more punished.
SHOP weekly below mean at despair zone of the bubble cycleBuy below $35
Sell Shares of SHOP with a Limit Order (Good 'til Canceled) at $197.87.
SHOP weekly below mean at despair zone of the bubble cycle HODL stop loss $0
SHOP short tradeShort term short trade for shopify.
Short at 36.50 initially potential pull back but higher short at 38-40 will monitor.
It's recently broken out of a descending channel due to earnings. I expect momentum to potentially continue depending as it looks like the indices want to extent a little further before pulling back.
Confluences for trade are:
historically 60-80 RSI has been pullback area for SHOP.
61 FIB is also around this area
Top of recent trading range
20-50 ema may reject again but will monitor. has traded below one another since breakdown at the top.
looking for a 5-10% move to downside back to 32-33 area.
SHOP: that's one bullish move todayWhen two S/R's, each of higher magnitude, get taken out in one day, it makes a statement. Assuming we close above 32.83 (ORANGE), the bulls are set on 38.45 (RED).
S/R's in action.
SHOP Shopify simplified Heres my current cheat sheet update for those wanting to trade Shopify and or buy for longer time horizons (investing) instead of trading.
Buy GREEN and Sell RED and ill update its level by level as the stock progresses. With each level you move up just realize that the volatility and RISK increase as well. Should you decide to begin increasing your position size in the RED zones just remember the BIGGER picture.
SHOP monthly bearish hammer retail wave 5 of downtrendSHOP monthly bearish hammer retail wave 5 of downtrend, pretty low, but wave 5 is probably coming. Stop loss above the hammer.
Shopify #shop $shop making NEW 52-week.Shopify not only made a new 52-week low today, but we are also looking at buying it for prices not seen since pre pandemic. Prices that it had ran up into without the $ printer running #Brrr.
Making this price range all that more significant.
I have a theory that possibly some of these riskier assets and tech/fintech plays end up finding their own bottoms long before the actual SPX etc. and other stocks.
I think that the more aggressive declines they dealt with earlier on has created a situation where they are ahead of the curve on finding their actual base values and building a structural floor for support ahead of the rest. Possibly kind of like the decoupling we are waiting for from Crypto in general.
Stocks like Affirm, Teldoc, Zoom, Zillow, DocuSign, Sofi might also do similar.
#Tdoc #sofi #zillow #Zoom #Docusign #afrm watch for similar theories to play out, I'll try and keep up to date on it and keep opportunities posted for others. But while researching and thinking for yourself those can be ideas to consider and watch for plays based on.
SHOP Short ideaSHOP looks like retested previous support as resistance.
My first target is 26.5 aiming for a double bottom there will take some risk off.
Stop above Wednesday high at 31.3-31.5
Shopify dancing in a range.Shopify - Intraday - We look to Sell at 39.88 (stop at 43.43)
The primary trend remains bearish.
Price action continued to range between key support & resistance (30.00 - 40.00) and we expect this to continue.
Bespoke resistance is located at 40.00.
Resistance could prove difficult to breakdown.
We look for a temporary move higher.
Our profit targets will be 30.61 and 28.61
Resistance: 33.00 / 35.00 / 40.00
Support: 30.00 / 28.00 / 26.38
Daily chart for context
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SHOP - Will see $10 one daySome say Shopify is the next Amazon. But even in the early days, Amazon stock crashed 90%. So will Shopify down to the .618 fib, 1.618 fib, and high volume node.
SHOPIFY - Observation Still an amazing chart to eyeball, Shopify, a poster child of the Covid era.
One to frame and hang on the wall for future reference so as not to forget what stocks can do.
SHOP Options StrategyCanadian e-commerce platform Shopify Inc (SHOP) offers 1.7 million online retailers in 175 countries (as of 2021) a range of services including payment, marketing, shipping and customer engagement. After online shopping boomed during the pandemic, it crashed ~80%, laid off 10% of its workers, and acquired Deliverr (product shipping) and Dovetail (influencer marketing). Shopify has also announced expansion into brick-and-mortar with its new product, the POS Go -- a device that allows retailers to provide wireless checkout anywhere in the store and analyzes sales, inventory and other data for merchants. Market cap $35B.
If SHOP has hit its low and is on its way up, here's an options strategy that maintains growth potential of up to 18% (26% annualized) but also allow some downside protection as SHOP is given room to fall 47% before breaking even.
Capital required: $2969.64
Hedged option legs:
Buy 1 $25 call
Sell 1 $30 call
Sell 2 $15 puts
Exp 6/16/23
Win probability: HIGH
RectanglePrice is struggling to get back in side, but price is just barely below the support line of 29.07. I turned the support line orange for now as it can serve as resistance unless price gets back inside the Rectangle.
Possible inverted hammer at this moment. This same candle at a top is ominous and is called a shooting star. SHOP is not at the top by a long shot.
The bands are contracting which can indicate a move is coming soon one way or the other.
Targets for a break to the downside are in orange type below the structure and targets for a break to the upside are above the structure.
No recommendation. Watching.
Short if unable to get back inside the Rectangle.
Feels like some possible upside in the market this week. Just feels like it. It may not be much and it may not bounce at all.
Everything reminds me of something.
SHOPIFY 30 % DROP IF THIS HAPPENS (NEW)A few days ago Shopify managed to break out of the range but it seems that it was a bull trap as the price came back into the range.
We believe that after the fake breakout to the upside that we had, it´s more likely now for Shopify to break down. We had a bearish cross on MACD and RSI on daily timeframe is not even oversold and it has more room to the downside.
Enter the short only if / when we break down the range. We expect 30 % drop.
Moreover SPX and Nasdaq finished their ´bear market rally so it´s also favoring more downside on Shopify.
SHOP (Shopify)... Long over 50ema...Shopify breaking out on 1 hour, 2 hour time frames with strength over 50 ema can see retest of $135.
SHOP trade setup idea 19-september-2022 SHOP has consistently been taking the 29.81-31.79 levels as support multiple times.
This level might not hold longer, causing the stock to plummet to the 28 or 26 levels soon.
Short term bearish.
$SHOP done dropping or can it drop some more.$SHOP Dropped 6% on Friday, current resistance at 34.58, if it fails to break, We can see it dropping back down into the order block around 29.98. Overall trend is bearish. Trendsi Indicators shows bearish momentum. Money Line (white line), EMA crossover (red band), as well RSI showing its moving down with time.
$SHOP running lower🔸️Ticker Symbol: $SHOP timeframe: 15M 🔸️Bearish Pattern 🔸️Investment Strategy: Short
TECHNICAL ANALYSIS: SHOP has a beautiful setup for shorts.. I will be looking at playing the 30 Sept 30p strike for about .80. Combining the sell model, trendsi indicators, and order block trading strategy... all indicate a movement; watch for price to come back into the $33 order block before playing shorts. TP and SL are marked on the graphic!
Looking at Trendsi Dashboard, it's easy to assume that this rise to our entry level will put us at the upper red band of our regression channel; money flow will be in our upper red band; and as we continue to back test these indicators, they have been spot on when determining future price movement. Using technical analysis and these very powerful indicators; I will be buying ITM options, for next weeks exp date.
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