SHOP jaws are opening on alligatorDebit call spread might be a good idea here (bracket 1250 or 1270, perhaps June).
NDX and earnings optimism will be the key drivers for the next 2 weeks.
Continue to believe the pivot points make sense.
SHOP trade ideas
SHOP S&R Strong Bid Off Swing LowShop dropped all the way to 1006.21 when the market plunged in March. Since correcting 32% from its all time high, SHOP has been strong as the tech led rally continues. Its earnings are coming up this month and it has showed strength throughout April. It is also trading right above its January range which should serve as a strong support.
SHOP final makes a moveNot going to trade it. Watching the pivot points and the broader NDX.
Held and suffered through the February - March debacle ($500 sell-off) that rolled me back to November account values.
SHOP volume finally showed up today. But SHOP appears to be reluctantly lagging NDX, ARKF, SQ, PYPL and AMZN.
Holding deep ITM September calls and a handful of shares. So I'm biased, bullish.
Find it hard to believe people with short this stock prior to earnings release 4/28/21 (pre-open).
$SHOP if Amazon can do it...Why not Shopify? Great day today, but why not give us one more blow off the top day?...
$SHOP as planned great move started...Would love to see follow through tomorrow, but not going to get greedy. Would love one more push through today's high, we'll see...
SHOP break a resistance level with Volume$SHOP (Shopify Inc.) in a 1H chart, broke a resistance level with significant volume confirmation.
Target Price: 1450
Expected Returns: 20%
Looks like big correction looming hereThe immediate pullback following new highs after such an epic run looks to the downside. Next important support at 850.
$SHOP 4 days of consolidation...Low volume, holding steady, looking for a increase in volume to push this thing back over $1,200...
$SHOP give me $1,200 tomorrow...Doubt it will happen, also extremely dependent on the market but...if we stay green this week
$SHOP example play...Next week $1,250-$1,350 call spread, took one at $655 earlier, but could still get for $820. Risky on total position size. Hedge with some SPY or QQQ puts end of week if we don't keep this movement going...maybe just 2 SPY $405's for tomorrow could cover if we open down.
$SHOP liking this if we keep going...$SHOP hasn't participated enough, if we stay green this week, shop could go hard
SHOP - Swing Trading (Gaps)Expecting SHOP to fill the recent gap at $1,120. In this case, entry for long position could be at that price, or slightly below it.
Fundamental wise, SHOP has a strong balance sheet as of December 31, 2020. Earnings should remain stable going forward. Even if COVID is gone, people will continue to enjoy shopping online from the comfort of using their smart devices.
During FY2020, the Company completed two seasoned equity offerings. Majority, if not all, of proceeds raised remained in cash or were allocated to buying marketable securities (mainly federal bonds). This brings in the question of what management could do with the funds. In spite of this, there is always an old saying of "cash is king".
SHOPIFY potential dip buy (37%)After several days of consolidation SHOP printed a bullish reversal candle
Potential reversal to reach previous all time high with 37% uptrend
Stop loss below lower wick candle
Good luck and thanks for your likes
WHO COULD HAVE FORESEEN THE BEAR FLAGWell, I did. I closed my long when it didnt break out and went short.
This name is in a supply zone. It may be prudent to watch another bounce here and set a buy on shares at the support below, Shopify is going nowhere regardless of COVID.
Limit order on shares set.
Speculative put credit 1000/1050 4/16 @17.7. This will be closed if this flushes below 1050 on strength.
