SHOP expanding diagonalSHOP has a bearish scenario unless it breaks above the line, simple.
GOOD LUCK!
SHOP/N trade ideas
SHOP earnings releaseI consider $SHOP a good investment in the $1200's, and a compelling investment in the $1100s.
But Shopify is not necessarily a great short-term trade, today and next week. Shopify likely to be oversold, near-term.
I own shares long, and will selectively add to these holdings. I also own one in the money December call that will most likely be out of the money on today's open. Not sure what I'm going to do with it.
Amazing to note the recent selling pressure in advance of the ER today.
$SHOP levels I'm going to buy on dip.These are the levels I'm going to buy $SHOP on the dip. Missed the earnings, supply chain issues, etc. Love the company.
Shopify Analysis 27.10.2021Hello Traders,
welcome to this free and educational analysis.
I am going to explain where I think this asset is going to go over the next few days and weeks and where I would look for trading opportunities.
If you have any questions or suggestions which asset I should analyse tomorrow, please leave a comment below.
If you enjoyed this analysis, I would definitely appreciate it, if you smash that like button.
Thank you for watching and I will see you tomorrow!
$SHOP rejected again at resistance level, heading towards 1150$SHOP got rejected again at resistance level from long time July 21, can see 1200 / 1150 unless it breaks above 1500 - maybe earnings does the trick but until then we are heading down only on this.
Shopify - $SHOP - patience warranted hereMight have a chance to add to your position in the low 1300's high (or even high 1200's) shortly after earnings.
At least that range would present a more compelling buy opportunity than $1400.
But short-term movements are mostly unpredictable.
Don't like seeing recent weakness in SHOP at the same time NDX is have a bit of a rally.
$shop wave count - ATH's coming after upside breakoutShopify is consolidating tightly in a symmetric triangle w/ apex @ ~ 12/16. Based on my wave count it appears that it is looking to put in its final primary impulse to ATH's which will complete the cycle wave V of super cycle wave V. Meaning that after this last hurrah we likely will be seeing a very substantial decline (potential line up with bear market? I think so based on my cyclical Index charts).
Right now it is bound tight with the 50 DMA and ATH AVWAP resistance above, and the 200 DMA and cycle wave II Pivot AVWAP support below. It just put together a reversal candle off of the 50% retracement, is that bottom for wave 2? Maybe. It is also possible that it has a slight earnings run up and then pulls back following, who knows.
Either way - I think this will end with a breakout to the upside and we will first see 1585 - 1650 - then 1725 - and finally somewhere between 1800-2K as ATH before we hit real turbulence.
How to trade this guy: Earnings are a total crap shoot and IV crush can completely ruin a position, so it is not worth the gamble IMO. Everytime I take the chance and run one I usually have it blow up in my face. For this guy, given the consolidation and triangle, it is best to alert the triangle break out and take a trade after the signal is given. Once outside of the triangle your stop is a breakout backtest failure (i.e. back underneath the breakout level). The first PT upon breakout is 1585 (and that run up should be a freeby with little resistance between 1500-1585.
$SHOP holding so far...Earnings on the 28th, another play I like on anticipation of earnings. Holding a $1,600/$1,700 call spread for 11/5 from last week...
SHOPIFY : CMP 1764SHOPIFY trading may be in correction for next two months...new position can only be create above 1810 with Target 2200 sl 1680...
Maybe Stock will be in correction till Dec- jan
$SHOP earnings next week...Seems like a reasonable opportunity for a 2 week out call spread with earnings anticipation, $1,600/$1,700 call spread grabbed at $4.75, now $4.50 so could get cheaper...risky, but SHOP is a market leader and the thesis is today is just a full market flush out before hitting ATH's again. If the thesis is wrong, that's fine, I'll set a stop at 50%.
Shop TAShop formed a h&s and broke down. Soon after it found support it retested the neck line and it rejected. After the rejection it found support again and bounced off it, it then tested the neck line another time and broke through.
SHOP - Resumption lowerSHOP had a pretty ugly candle Friday, and the chart looks sick (bad sick), so I would project it resumes lower into earnings. Maybe even due to increasing costs, earnings won't be too great as well.
Falling Wedge- BullishShopify looking really nice here, certainly worth noting the 200 day EMA acting as strong support for SHOP as it has bounced off it three times since March, additionally Shopify does have earnings coming up on 10/28'. However, will be looking for a breakout from this falling wedge (Broader Market Conditions Permitting)- Just some support and resistance levels and some RSI based supply and demand zones to keep an eye on as well- bullish
- Big falling wedge forming on the daily timeframe
- EMA's starting to curl upwards
- Hammer right off the 100-day EMA
- Sitting on its 20-day SMA (Not Pictured)
- Bollinger bands squeezing on shorter timeframes
PT1- $1,435.50
PT2- $1,443.81
PT3- $1,451.70 + Breakout
A quick analysis of SHOP, what can we see? Today we will take a quick look at the SHOP chart.
What we can see here is:
a) Ascending Channel, the price was rejected from the lower trendline.
b) ABC corrective pattern (apparently finished).
c) Support/Resistance zone (we want to see the price above that level, to think in bullish opportunities).
Based on all those items, if the price reaches our green horizontal line, we will consider that to activate the bullish view towards the targets we have defined using fibo extensions.
Our invalidation level will be below "C" either the analysis is executed or not.
Thanks for reading!
ABC BullishPossible stop under C, or under 1285.90 or last area of support that you see. Sometimes long entry level can serve as support as this has passed that. Earnings 10-28 BMO/before market open.
Long entry level can be important to hanging on so getting a good one can help in the long run. SHOP was below the bands set on 80 but quickly returned to the interior of the bands.
At this moment I see a green Doji as the daily candle which represents indecision.
No recommendation.
Price is still under the 50 SMA which is a bit droopy and crossed down through the 20. Price is over the 200 which is sloping up. ABC Bullish and target is D. Targets calculated using the length of the AB leg and fib levels. The CD leg can sometimes equal the AB leg, or it can be a portion of it, or an extension of the AB leg. In this pattern C needs to be above A. B is the peak or the high of the pattern.
Possible cup and handleKeep this on watch, looks like a possible cup and handle pattern developing. Need to see if that handle actually forms. Either way 1429 is breakout.
$SHOP looking to get back to the VWAPAfter a healthy drop, SHOP is ready to go back towards the VWAP around $1,475. Still room to go after this 100 point move from $1,285. Not playing this, but watching
$SHOPShopify stock has made long-term investors a boatload of money.
If you would have been able to buy shares of the e-commerce subscription platform at its 2015 IPO price, you'd be sitting on gains of nearly 9,000%!
In this short period, the company has risen to become the largest Canadian company by market capitalization with a valuation approaching $200 billion.
Still, the company has its work cut out for it to earn "four-comma status" by 2025.
In the second quarter, Shopify did so by beating analyst expectations on the top line by reporting total revenue growth of 57% and its first $1 billion quarter. However, the numbers are even better than they initially appear when broken down by segment.
Shopify's smaller revenue source is subscription services, the fees it charges sellers, or "merchants," to use its tools. The second is merchant services, which consists of the revenue Shopify earns from those merchants in the form of add-on services like payment processing and transaction fees.
In the year-ago quarter, merchant services grew faster than subscription revenue, which makes sense when you consider the pandemic increased the demand for online shopping. This year's growth was led by subscription services, which was boosted by more merchants beginning to use Shopify's e-commerce platform and existing merchants buying higher-priced subscription bundles.
When we take a look at the technical side of things Shopify looks incredible on the higher timeframes.
Looking at the weekly chart we are currently sitting at long term support and this might be something you might want to keep your eyes on going into next weeks trading sessions.
If price is able to hold these levels we could see Shopify continue it way up.
When we move down to the daily chart for indicators we have;
MACD curling
RSI breaking above 50.
Watchlist this.
SHOP is highly undervalued at this pointShop just hit its long term support and has similar RSI levels as March 2020 (Covid flash crash). IMO SHOP is highly undervalued and has been consolidating around the 17000-1900 range. Next leg up should take it to $3000 and then finally the 5th wave could propel us to around $4200 in the next 6 months. Going long with full force. Not financial advice!
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SHOPCalls can work over 1400 tomorrow. Levels above 1400 are 1431, 1453.
Trade Idea: 1415C 10/8 *lotto (high risk)
BID/ASK: 3.30/5.00
