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SHOP trade ideas

RectangleNeutral pattern until a trendline is broken with a trend in that direction. Also known as a horizontal trading channel and a Basing pattern. Basing patterns are often seen when a securities are trying to bottom, but by no means does it indicate that a bottom is in. Rectangles are frequently found at tops as well. I have been swing trading this between trendlines and doing well with it but that is risky. This pattern will eventually break one way or the other. Candle today has a long top wick at this moment )o: No recommendation. One experience can be worth a wilderness of warnings.
NYSE:SHOP
by lauralea
Fire Sale?SHOP looks to be in trouble here folks. Currently under both 50 and 100 MA and is back under a trend line that goes back to April. In addition to this, there is a bearish RSI divergence. However, there has been strong support at the $30 area where it has bounced several times. Remember that the more times a support gets tested the weaker it becomes and the more likely it is that it will fail. Things are not looking too hot on the weekly timeframe either. For these reasons, I am bearish on SHOP. Price target at about 27 to 28 dollars.
NYSE:SHOPShort
by isaacsalcido3612
Shopify SHOP - Patience is a VirtueShopify was more or less Canada's version of TSLA or AAPL last year, except it cratered like a memestock. If you look at the monthly, it's an absolute bloodbath, losing 83% in less than a year. Although prices are currently "cheap" and SHOP seems to be an actually useful company that may have a future, you've got a long way to go before the buying opportunity. A lot of people see that Shopify spiked to $42 and is down to $32 and think to themselves that it's really quite a discount. This isn't so bad if you can buy spot and diamond hands it for a few months, but if you're on calls or leverage, you're going to have a bad week. One of the key tells is that Shopify has been trading in this specific range for three months now. And while it hasn't broken the lows, it did fill its gap during the peak of bear rally hysteria. And we're now in the feature film "Eight Straight Days of Doom." It's a woke snoozefest, featuring Alec Baldwin. But you paid $27 for a ticket and $318 for a bucket of popcorn and 2 kilograms of Sour Patch Kids, so you're stuck eating 6 weeks worth of calories in 3 hours while watching something unpleasant on an ugly sheet of silver with too many speakers with the volume cranked to the "way too f'in loud" setting. This is modern human life, and it's nothing to be desired. Traditional human life was much more interesting. The women wore nice dresses, the food was good, and there were harp players and poets in the streets to listen to, instead of Alec Baldwin. Everything in the market is about to get really scary so that you can sell low in panic and then buy back higher with FOMO starting in October. This is how the game is played. The caveat to this call is $23 may be too light to enter. Numbers like $18.xx may manifest, although I wouldn't expect those to last for very long. Either way, that "support" right below $30 is about as useful as trying to hold a bowling ball with a piece of inkjet paper. Don't get greedy, and don't capitulate. But the upside on Shopify when the Bump and Run Reversal/Return to Normal begins should be quite delicious, if you can wait to buy at the right price and hold on long enough to make it that far.
NYSE:SHOP
by LordWrymouth
3
Shopping for profitShopify Short Term We look to Buy at 30.49 (stop at 28.39) Previous support located at 30.00. There is scope for mild selling at the open but losses should be limited. We look for a temporary move higher. Preferred trade is to buy on dips. Our profit targets will be 39.51 and 42.30 Resistance: 40.00 / 51.12 / 70.29 Support: 30.02 / 29.72 / 16.90 Disclaimer – Saxo Bank Group. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis, like any and all indicators, strategies, columns, articles and other features accessible on/though this site (including those from Signal Centre) are for informational purposes only and should not be construed as investment advice by you. Such technical analysis are believed to be obtained from sources believed to be reliable, but not warrant their respective completeness or accuracy, or warrant any results from the use of the information. Your use of the technical analysis, as would also your use of any and all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features. Please also be reminded that if despite the above, any of the said technical analysis (or any of the said indicators, strategies, columns, articles and other features accessible on/through this site) is found to be advisory or a recommendation; and not merely informational in nature, the same is in any event provided with the intention of being for general circulation and availability only. As such it is not intended to and does not form part of any offer or recommendation directed at you specifically, or have any regard to the investment objectives, financial situation or needs of yourself or any other specific person. Before committing to a trade or investment therefore, please seek advice from a financial or other professional adviser regarding the suitability of the product for you and (where available) read the relevant product offer/description documents, including the risk disclosures. If you do not wish to seek such financial advice, please still exercise your mind and consider carefully whether the product is suitable for you because you alone remain responsible for your trading – both gains and losses.
NYSE:SHOPLong
by Saxo
2
$SHOP -73% DISCOUNT (52-WK) -83% (ATH)!Shopify is good stock if you are thinking about adding an E-Commerce stock to your watchlist/portfolio.I think its really Shopify vs Amazon in they both just performed a stock split. It is currently showing a possible sign of basing, but I think it has a way to go down! The original Heavy buying positions from IPO '15 is the $13.10 area! The next set of buyers from Dec. '19 to Aug. '22 are @$35 area! Which is good entry to swing to the $176 ATH, but the $13 entry area is a SNIPER! anything in between those two are good entries for long-term.
NYSE:SHOPLong
by twotimezinvestments
1
BIG Money Accumulating SHOP shares? Wyckoff Accumulation FormingOpposite the Wyckoff Distribution is the Wyckoff Accumulation. This is a sign of buying from big money. It shares many elements of the distribution and is broken into 5 phases. I will briefly outline them below... =================== Wyckoff Accum Phases Phase A: Phase A marks the stopping of the prior downtrend. Up to this point, supply has been dominant. We should see volume taper and spreads widen (price-volume divergence). Big money will scoop up shares to create the AR on increased volume. A trading range is created using SC and AR. Phase B: Is the actual accumulation phase. Prices are low and easy to grab. Expect the price to ping pong within the trading range as big money optimizes their average. Expect many stop hunts and false breakouts to free up shares. Phase C: It is in Phase C that the stock price goes through a decisive test of the remaining supply, allowing the “big money” operators to ascertain whether the stock is ready to be marked up. The shakeout is the optimal entry point but it does not always occur. Phase D: If we are correct in our analysis, what should follow is the consistent dominance of demand over supply. This is evidenced by a pattern of advances (SOSs) on widening price spreads and increasing volume, as well as reactions (LPSs) on smaller spreads and diminished volumes. During Phase D, the price will move at least to the top of the TR. LPSs in this phase are generally excellent places to initiate or add to profitable long positions. Phase E: In Phase E, the stock leaves the TR, demand is in full control and the markup is obvious to everyone. =================== I believe the following points are in line with the phases above: Decreasing volume and a widening spread before the start of the range. It is then followed by buying on increased volume. We have already seen Phase A. Phase B is the accumulation. Note the increases in volume on the up moves but decreases in volume on the down moves. I think Phase B is mostly over if it has not been completed already. Phase C will often have a shakeout. SHOP reported earnings and dumped to the lower end of the trading range. Although it did not break the range, I think this was the anticipated shakeout. We have since climbed higher on average volume and have now broken the upper range. It is reasonable to assume we are in or transitioning to phase D. It is important that we see some form of consolidation to confirm the upward move. If we do not, we could see more tests of supply and moves back into the trading range. We are currently above the 50 Dynamic Moving Average but below the 100 EMA. This shows that the medium-term trend is flipping bullish but the longer-term trend is still down. The vol osc is also showing increases in volume supporting the move upward. Higher time frames also indicate that this trading range formed at previous support. Overall, I think the stars are aligning to take this stock higher. Eager to hear your thoughts.
NYSE:SHOPLong
by Decam9
4
SHOPIFY approaching the end of its consolidation. Target $60+.Shopify (SHOP) has been consolidating within an Accumulation Zoen since the May 11 Low. At the same time the 1D RSI has been on Higher Lows indicating a hidden bullish sentiment. The last time we saw that recently was during the September 24 - November 29 2019 Accumulation Phase, which was also on 1D RSI Higher Lows. A strong rally followed after the pattern broke to the upside (came after the price broke above the 1D MA50 (blue trend-line)). Currently, the bullish targets are the upper Fibonacci retracement levels, which as you see they all match the Lower Highs during the price correction. We are aiming for $60 on the short-term. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
NYSE:SHOPLong
by TradingShot
3