SHOPD trade ideas
Support and Resistance for SHOPThe dashed lInes repersent some weaker support and resistance where I expect some price reactivity. The solid lines are historical supports and I expect for rejection or larger moves to take place off of. Lows have been swept up last week with large volume which could be a combination of short covering or confident buyers adding to their position. This is significant because it shows that despite the markets downturn, there is still some bullish activity in the stock. This stock has a beta of 1.56 so it will be generally more prone to market volatility. After a worse than expected Earnings report coming in at .99 a share (1.24 expectation) the stock corrected from its pre earning run up. From here a full retrace to 1204 which was a generally accepted price between buyers and sellers is possible. There is also the possibility that price runs back up to the gap at 1322-1335, this could be a very reactive area. Sitting under the December highs I would say that there isn't much of a bull bear bias for this stock quite yet as the market corrects and with the bad earning's report. Note that while Shopify is a leader in it's category- companies like e-Bay, Amazon, and Walmart all offer integrated e-commerce. Furthermore BigCommerce now offers their sellers a chance to directly market and sell their products on the Walmart Marketplace which could be huge for the brand.
SHOP has always been volatileSold off on strong earnings release
Sold off on secondary offering at $1315
Continued weak with broad NDX100 sell-off
My strategy for week no. 9 :
• Assess NDX100 trend by Monday close (is selloff accelerating or abating?)
• On SHOP move toward $1390, trim position (cut long shares by half)
• If SHOP trends toward $1180, convert long shares to in the money Jan 2022 calls
I'm still bullish. Expecting near-term rally to $1390 (not more selloff). But NDX100 is worrisome and could pull SHOP lower.
Shopify looking bullishShopify held key support around ~$1535. As long as its trading above second support line uptrend is intact. Good buying opportunity if price drops into the orange triangle. Expecting uptrend to continue into the coming months.
This is not financial advice.
SHOP entryLooking like a great entry on SHOP. Been on a nice uptrend for a while and might be a good time to enter while markets are down
Classic Bullish Flag Pattern. Wait for pullback to finishGreetings,
I'm bullish on SHOP based on the bullish flag pattern forming on the daily chart. In the short term, however, SHOP is bearish while it completes it's pullback.
Daily (Bullish)
1. In interpret the decline in volume and price as a bullish pullback (bullish).
2. MACD crossover (bearish).
3. SHOP is between monthly and quarterly EMA (buy signal).
4. SHOP is below mean average of $1190 (buy signal).
5. Double Bottom Pattern formed
Weekly (Bearish)
1. Bearish Engulfing Candle
2. Volume and Momentum Declining
3. Weekly Pivot is $907
4. 23.6 FIBO at $1056.50 may offer strong support, since it coincides with the quarterly EMA.
Happy Trading!
Disclaimer. My ideas are for informational purposes only. My ideas do not constitute solicitation, recommendation, endorsement, or offer to buy or sell any securities or other financial instruments. You should not construe any such information or other comments as legal, tax, investment, financial, or other advice. There are risks associated with investing in securities. Investing in stocks, bonds, exchange traded funds, mutual funds, options and money market funds involve risk of loss. Loss of principal is possible. Please exercise your own due diligence.
Shopify to $1650 before March 10Shopify new price target: $1650
When: Before March 10
Growth: 12 %
Buy: YES
Trade at your own risks
SHOP - Nice bounce- going to $1460If you saw my previous post "SHOP- The Big Picture" then you would see that SHOP has bounced at one of my trend lines higher than I expected. I have followed this stock and made a lot of money on it since the $200's. I really think after Friday and the bullish close that we are going to $1460 were there will be resistance. Can we break through the 52 Week High recorded recently? That will be a major test. If it does pass $1500 the next peak will sell off so be aware of that.... GL!
great chart request!this middle trendline has acted as support/resistance plenty of times in the past... right now its acting as support, so SHOP remains bullish as long as it holds. long 1423 stop loss 1323 price target 1513
$SHOP with a Bullish outlook following its earnings #StocksThe PEAD projected a bullish outlook for $SHOP after a negative over reaction following its earnings release placing the stock in Drift C
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Shopify - What's your time horizon?If your time horizon is more than one month, you might consider the recent post earnings pullback, as an opportunity to accumulate $SHOP
Otherwise just wait for the $NDX to settle.
$SHOPEntry price : 1196.74
Fundamentals :
- Sector: Software
- EPS % Chg (Last Qtr): 348%
- EPS % Chg (Previous Qtr): 215%
- 3 Year EPS Growth Rate: 101%
- EPS Est % Chg (Current Yr): 1070%
- Sales % Chg (Last Qtr): 97%
- Sales % Chg (Previous Qtr): 97%
- 3-Year Sales Growth Rate: 57%
- Annual Pre -Tax Margin: 5.8%
SHOP to $1499Shop is in a nice triangle. support is 1439.24 and first resistance is 1466.41 overall move is to 1499.67
Great changes to buy shopify cheaper on MarchActually overheaded, the stock may be cheaper in march and a good buy strategy, when it goes in the area of 50 MA. New highs later should be possible
Evening star pattern, up 25% just in February prior to earningsSHOP has been a beast for along time! It has runup 25% just in February, so be careful for earnings on Feb 17th. The past 3 days show a bearish evening star pattern (not 100% perfect). I calculated the implied move to be 6% or $90 dollars. Options - 1068 in $1500 weekly calls, over 1600 in $1200 weekly puts. If you know how to play iron condor, I think that is best earnings trade o capture premium. They beat last earnings and raised expectations , its going to be hard to repeat, imo. Have a great long wknd!
SHOP - sell on earnings and buy back!!!After this big run prior to earnings we may have a spike like 3 earnings ago, but there is no way we will be $1600 a share right now!!!
I love this stock and it has profited well for me and many others over the past 2 years. Holly apes breath I cannot believe I bought this stock at $300 in march??.. They are the #1 ecommerce stock hands down. I posted a prior detailed long term chart last week which justifies this conclusion. Thank
you for your interest. I HOPE my post's help you make money and have FUN !!! ♡ ♡ ♡ Have a Happy Great Valentines Day and Presidents Day!!!
PS - WE NEED A WOMENS DAY!!! Like Europe!!
SHOP - The big pictureShop is having a great run, but a pullback is in the near term whether after even a higher spike on earnings or prior to earnings . These are the long term trend lines where the bounce from a pullback has happened over the long haul. I feel that somewhere between 1250-1300 will be the next bounce. Someone posted that it will pullback over 50%????? ah NO WAY! Even in COVID the lowest percentage lost was 44%. The only way that will happen again is in a market crash. So this is the big picture..... GL!
Shop updateJump the gun on the pullback with my last setup. I think my overall market sentiment bias that the Nasdaq would pullback affected that call. Anyways , shop broke through that (Weekly) resistance and the results were as expected albeit it received alot of help with that FB news but what came first the chicken or the egg?
Targets are fib extensions since we're now trading at an ATH.
Strong Support would now be that yellow resistance should any pull back occur in the near future
SHOP Looking to add going into next weekI have been in this since Dec 16 when price broke the 6 month range. I took some profits on the initial trade as it hit my first target then added back to the position on Jan 9. See previous post below for details. SHOP had a beautiful weekly close last week and is at a new buy point going into earnings on Feb 17. The plan is to add to the position on a break of the high and trim going into 1340 if I get the move I want. This is a long term hold for me so I plan to hold a partial position through earnings. This is a good example of how I like to trade around a core position.
Additional Info:
I am an intraday scalper and short term swing trader of stocks & Futures using options and equity.
I focus on high volume momentum stocks in strong uptrends.
My time frame is between 5minutes to 5 days on most trades.
I scale into positions and scale out of positions as my targets are hit.
I always trail my stops after T1 is hit to reduce risk and lock in gains.
If my post is on a Weekly/Daily/240M chart the idea is a swing trade.
If my post is on a 60M chart or lower the idea is a day trade.
Day trades can turn into swing trades if the stock is strong.
All trades should be supported by market direction.
Treat my posts as trade ideas and not signals.
Traders must trade using their own back tested trade plan and rules.
Traders must plan risk first and profits second.
Additional Additional Info:
If you use options to trade high IV stocks it is crucial to wait for some consolidation or a pull back.
If you buy an option when price is stretched you will find that even when the instrument trades in your
direction you will lose money because you will have paid too much premium.
Simple rule = BUY options when candles are SMALL and SELL options when candles are BIG.
Pullback before earnings? - SHOPMy setup after todays rally after news about Facebook integration. Expecting a notable pullback before earnings.
