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.
SHOPD trade ideas
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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RectangleNeutral pattern until a trendline is broken with a trend in that direction.
Also known as a horizontal trading channel and a Basing pattern.
Basing patterns are often seen when a securities are trying to bottom, but by no means does it indicate that a bottom is in.
Rectangles are frequently found at tops as well.
I have been swing trading this between trendlines and doing well with it but that is risky.
This pattern will eventually break one way or the other.
Candle today has a long top wick at this moment )o:
No recommendation.
One experience can be worth a wilderness of warnings.
Shopify is buy opportunity wait for $33 for above $60 for now , after another down is going to make more money
Easy Long...I believe this correction has probably completed at this point and the bottom is in - if not and we break lower the fork is invalid as are the reaction lines - and a new fork would be drawn from our next potential bottom.
SHOP AnalysisPrice seems to be redistributing, once price breaks the market structure by taking the lows at 29.76, we should see price initiating and confirming a downtrend. Price could still possible go up to mitigate the bearish POI at 36.31, but that should hold.
SHOP Tradesetup Idea for 31 August, 2022 - Short/Medium TermSHOP has consistently been taing the 29.81-31.79 levels as support multiple times.
This level might not hold longer, causing the stock to plumet to the 28 or 26 levels soon.
Short term bearish.
$SHOP - giant accumulationSHOP has been accumulating for months, same like META. Sometimes companies take years to accumulate like this. Trade in a channel.
Fire Sale?SHOP looks to be in trouble here folks.
Currently under both 50 and 100 MA and is back under a trend line that goes back to April.
In addition to this, there is a bearish RSI divergence. However, there has been strong support at the $30 area where it has bounced several times.
Remember that the more times a support gets tested the weaker it becomes and the more likely it is that it will fail. Things are not looking too hot on the weekly timeframe either.
For these reasons, I am bearish on SHOP. Price target at about 27 to 28 dollars.
Shopify SHOP - Patience is a VirtueShopify was more or less Canada's version of TSLA or AAPL last year, except it cratered like a memestock. If you look at the monthly, it's an absolute bloodbath, losing 83% in less than a year.
Although prices are currently "cheap" and SHOP seems to be an actually useful company that may have a future, you've got a long way to go before the buying opportunity.
A lot of people see that Shopify spiked to $42 and is down to $32 and think to themselves that it's really quite a discount.
This isn't so bad if you can buy spot and diamond hands it for a few months, but if you're on calls or leverage, you're going to have a bad week.
One of the key tells is that Shopify has been trading in this specific range for three months now. And while it hasn't broken the lows, it did fill its gap during the peak of bear rally hysteria.
And we're now in the feature film "Eight Straight Days of Doom." It's a woke snoozefest, featuring Alec Baldwin. But you paid $27 for a ticket and $318 for a bucket of popcorn and 2 kilograms of Sour Patch Kids, so you're stuck eating 6 weeks worth of calories in 3 hours while watching something unpleasant on an ugly sheet of silver with too many speakers with the volume cranked to the "way too f'in loud" setting.
This is modern human life, and it's nothing to be desired. Traditional human life was much more interesting. The women wore nice dresses, the food was good, and there were harp players and poets in the streets to listen to, instead of Alec Baldwin.
Everything in the market is about to get really scary so that you can sell low in panic and then buy back higher with FOMO starting in October. This is how the game is played.
The caveat to this call is $23 may be too light to enter. Numbers like $18.xx may manifest, although I wouldn't expect those to last for very long.
Either way, that "support" right below $30 is about as useful as trying to hold a bowling ball with a piece of inkjet paper.
Don't get greedy, and don't capitulate. But the upside on Shopify when the Bump and Run Reversal/Return to Normal begins should be quite delicious, if you can wait to buy at the right price and hold on long enough to make it that far.
Shopping for profitShopify
Short Term
We look to Buy at 30.49 (stop at 28.39)
Previous support located at 30.00. There is scope for mild selling at the open but losses should be limited. We look for a temporary move higher. Preferred trade is to buy on dips.
Our profit targets will be 39.51 and 42.30
Resistance: 40.00 / 51.12 / 70.29
Support: 30.02 / 29.72 / 16.90
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good signal in SHOP marketwe have good signal idicate that the market is long but we still dont have good confirmation well wait and see what happen next
