Shopify ~ ShopShop here looks like it's a falling knife to the downside and could be targeting the very low 700 range with a break at 790. Been brutally murdered.
SHOPD trade ideas
Hit every target i mentioned in my last analysis here on TV 🚨shop saw huge downside continuation as expected after breaking the extreme trend support. Congrats if you shorted!
now sitting at a local support zone here at 835, if we break below target is 680! if we hold and bounce target is 1015-1400
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Shop is almost at the buyzone around 1220 and then up from thereShop is going to reverse at the 1.272 Fibonacci and demand zone
SHOP - Trade set upSHOP chart is falling apart. It's broken the weekly 100MA for 2 solid weeks now.. If we break my entry line I'll be taking some SHOP Feb 18th 800 puts to pound town.. It's expensive for some of you I get it, but if you can afford it the RvR is a 6 bagger if it makes it down there.. The exit is the 50EMA on the monthly chart
Shopify sinking..!if SHOP has lost 50% of its value in 42 days, do not be surprised if it lost another 30% from current prices in less than 1 month!
Best,
Moshkelgosha
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$SHOP in a Very Vulnerable PositionI would favor a short on SHOP. It could possibly be played long for a bounce back to trend line and maybe even to the 10 / 20 EMAs. It is up pre-market but I'll be watching this for a short set-up if it losses the horizontal support area it tagged yesterday. I may even go long for a day or swing trade if it can get over the downtrend line and then look for a reversal to short at the 10 / 20 EMA. All TBD. Ideas, not investing / trading advice.
SHOP Long 1300 Then Short 1100NYSE:SHOP
Long NYSE:SHOP till $1300
Short from 13 to $1100-1050-1000
Then long it again....
SHOPIFY INC. - SHORT TERM BEAR SCENARIOThe bearish scenario is more likely to continue for Shopify inc. , after the breakout of the major support level. If the bears succeed with their plan and price dip below $1030 we may see new lows below $900.
Shopify Inc. is a Canadian multinational e-commerce company headquartered in Ottawa, Ontario. It is also the name of its proprietary e-commerce platform for online stores and retail point-of-sale systems.The Shopify platform offers online retailers a suite of services including payments, marketing, shipping, and customer engagement tools.
How Accurate was our prediction on 21 Jul 2021 !SHOPIFY stock choose our predicted path . We made this price targets and stock path prediction several weeks ago ! How amazing!
It may seem that we are proud of ourselves and pay ourselves compliment ! Although we think that we deserve such a compliment , We just want to encourage you to know what kind of success can be achieved using Elliott waves several weeks ahead of the market ! I admit timing was not so accurate but price prediction was nearly perfect.! Few people could imagine about 60% fall from ATH ! Time proves the value of an idea !
Good luck everybody!
SHOP POTENTIAL BOTTOM BLUE SKIES AHEADThere is a wolfe wave setup on the 4 hour time frame. The projected target is calculated by extending a linear line between pivot 1 and 4 and projecting the line. This is represented as the green perforated line, as shown in the chart. The projected target is 1500 and above which is expected to reach this price target within 1 to 2 weeks.
Shopify - It was inevitableWhy a correction was inevitable ?
Divergence on the RSI
Break of the trend line
Overvalued Stock (and by a lot)
Re entry price target : 900$
SHOP " 1H "I think that chop will rise to achieve the fourth wave and then return to descend again..just a technical reading to continue..
$SHOP Either March 21 or the Ides of March$SHOP is another pandemic darling that has fallen on rough times lately. However, even during the rise big swings in price are observed. In that sense $SHOP longs better hope that this is March 21 again in which it fell from $1500 to $1000 then made a new high. The macro environment of perceived higher rates won't help. Neither does the fact that the March 21 drop was back into consolidation. The last stops before $1100s and $1000s should have decent amounts of support. Best case it's a chance to consolidate then reverse. Worst case these are the last stops before the March 20 highs.
Head and ShouldersPossible Targets listed in orange below structure. The first target was 926.15 and this has surpassed that.
This could stop falling if market turns around so targets are only "possible" targets down.
Price has crossed below neckline with a confirmed downtrend.
Possible stop above neckline or where you see resistance.
No recommendation.
A head and shoulders pattern is a chart formation that appears as a baseline with three peaks, where the outside two are close, not exact, in height and the middle is highest. In technical analysis, a head and shoulders pattern describes a specific chart formation that predicts a bullish-to-bearish trend reversal. This pattern can have more than one Head and more than 2 shoulders nd is then called a complicated H&S.
The head and shoulders pattern is believed to be one of the most reliable trend reversal patterns. It is one of several top patterns that signal, with varying degrees of accuracy, that an upward trend is nearing its end.
A head-and-shoulders takes place on a chart (on any time frame), when a stock (for example) rises in an uptrend to a new high. Strong volume lifts the price action to the peak of what results in the top of the left shoulder. Next, the pullback takes place and the left shoulder is complete. The pullback is a reflection of mass psychology when latecomers jump into the game during this pullback pushing the security higher and the top of the Head forms. The stock tumbles down to the prior support area formed by the completion of the left shoulder. The Head and left shoulder are now completely formed. At this area, known as the neckline (of the finished pattern), a small group of hopeful buyers pushes the price up again. This time, however, the optimism is fading and price moves up only to the top of the left shoulder, if that high. Volume dissipates and the price rolls over, forming the top of the right shoulder. The neckline is support as price has tested this area before. The pattern is not valid until the neckline is clearly broken with a downtrend. In come cases, especially in a very bullish market, this can be a very long time and the pattern may fail as price goes on to make new highs.
This pattern does best in a bear market. The Inverse Head and Shoulders, or H&S Bottom which is simply the Head & Shoulders pattern flipped over, does best in a bull market.
Shopify Taking a Tumble? Shopify - Short Term - We look to Sell at 1266 (stop at 1328)
A bearish Head and Shoulders has formed. Neckline resistance 1300. There is no indication that the selloff is coming to an end. The bias is still for lower levels and we look for any gains to be limited. Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 1300, resulting in improved risk/reward.
Our profit targets will be 1023 and 895
Resistance: 1200 / 1300 / 1400
Support: 1100 / 1000 / 900
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Shopify Analysis 06.01.2022Hello Traders,
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breaking support! not a good sign for longs shop recently broke below extreme trendline support, if we fail to break back above we can go to 1015-839 support zones.
targets if we reclaim trendline support:1399-1594
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SHOP is Ready for a "Reversion to the Mean" trade. SHOP is too far away from the 50 SMA. Usually, that leads to a sharp snap back rally from support.
