SHOP/N trade ideas
SHOP could go downconsidering the Fibonacci resistances (and historical behaviour, 'cus it is the same), the stochastic indicators, momentum and the fact that it went through the EMA-50 in any case the price keeps under 1478 there are good chances of going down till 1435 or 1382. Stay aware of any sign of an unexpected rise. I'll give it a try going short
$SHOP Cypher Can bounce hard Quick view on shop, $$$ Stock but you can bank w small shares, id watch it, same rules on pattern
SHOP.... drop? ($1300)So I posted an idea about BYND that involves this diamond pattern that I discovered. I checked in on SHOP and it too appears to have that diamond pattern. If this diamond pattern plays out, SHOP can drop down to $1300-$1250. I was skeptical, but then I hear news about increasing competition in the news. I'm interested in what you see.
SHOPTrade Idea: 9/10 1600C over 1560.
SHOP over 1600 can run another 50 points.
..........................................
Shopify $SHOP nearing pivot pointThe e-commerce giant is been behaving very well since its first breakout from the $1,290 resistance. Now is working its way to make a new ATH with higher lows and respecting its $1,500 support. To confirm the buy zone between $1,650 and $1,730, the MACD is making a buy signal with a bullish crossover. Also the relative strength of NYSE:SHOP against AMEX:ARKF is really good, it needs to breakout from the peanant patern it formed to be even better. I'd like to add that the IBD RS rating is 83, that means that its performance is in the top 83% of all stocks over the past year.
So, there are two ways to play this. One would be just to wait for the breakout from the $1,650 resistance or, to buy 1/2 of the position today and add the rest when that breakout happens. The bad thing for the second approach is that the buying volume for today is not that great. So, I'll wait for the closing price to see if its really worth to be agressive.
SHOP sideways about to breakoutSHOP has been consolidating after a daily triangle breakout
Nice sideways action preparing for another leg to the upside.
I will be watching price at $1558
Great potential for a runup
Shop again to go upWe see that the trend was already going up. But on July 26, trade fell a bit. The market has now decided to go up by force and overtake the line
time to buy
$SHOP don't forget this either...Still looking very nice after the first pop, consolidate, now move towards ATH's
$SHOP make your own luck...Had some $1,550/$1,580 call spreads ready based on the set up, then got lucky with some news as well. Sometimes you get it right and lucky at the same time. Holding some lotto $1,600/$1,610 spreads a few more days
SHOPStrong close today. Shop over 1500 can run 35-50 points.
Trade Idea: 8/27 1550C over 1500.
BID/ASK: 3.80/4.40
$SHOP looking for opportunities...SHOP hasn't participated today as much as some, this one is looking pretty nice. I haven't tracked it enough lately to try anything real, but liking a chance for a SHOP type move soon
SHOP at or close to 1500-1510 can be considered for shortsIf you have long positions in SHOP, consider hedging your position with puts for the near term. We can have a nasty pull back with squeezes and weekly is still too extended from the mean. A reversion to mean on SHOP would translate to 1378 as the first price target and we would still be in the long term bullish cycle.
SHOP - Diamond Top 3-3-5 CorrectionBearish Diamond Top forecast and projection. Looking to complete ABC correction.
$SHOP .. diamond or trading range box ?Pick your side ...
Is it diamond top or .. just trading ranges ?
Momentum broke down the trendlineMomentum broke down the trendline before price breaks, momentum breakdown setup
Shopify - Needs to dropify to the $1,300!-Earnings are forecast to decline by an average of 10.4% per year for the next 3 years.
-High level of non-cash earnings
-Significant insider selling over the past 3 months
-Shareholders have been diluted in the past year
SHOP - 1000 to 1100 PTBearish C wave here and looking for 5 waves down towards Volume demand level (1,000) or 100% retracement level of Wave B (1,000). Would give yourself some time around December/January 1300/1400 Puts to be safe.
Goodluck
Short term rise coming upWilliams indicates oversold. There is still some room for movement upwards. This could be an opportunity for a quick one week turnaround for profit
Short term rise coming upWilliams indicate oversold. There is still room to movement upwards. Buy now for a quick one week turnaround profit
Short term rise coming upWilliams indicate oversold. There is still some movement upwards. Buy now for a quick one week turnaround for quick profit
