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SHOP trade ideas

$SHOP Rectangle pattern trading rangeNYSE:SHOP The price has formed a Rectangle pattern and has been in a trading range since May 2022. A close above $41.85 will confirm the pattern's breakout, with a target price of $51. 40 . A close below $28.90 will confirm the pattern's breakout, with a price target of $21.75. Note that not every price target is met. $SHOP remains in a downtrend. A close above $79.00 will confirm a trend reversal, and the price will likely keep moving to the upside.
NYSE:SHOP
by SanchezAxline
One for the shopping list?Shopify - Short Term - We look to Buy at 36.75 (stop at 31.65) Previous resistance level of 36.75 broken. Price action has formed a bullish ending wedge formation. We look for a temporary move higher. Preferred trade is to buy on dips. Our profit targets will be 51.12 and 70.29 Resistance: 41.37 / 51.12 / 70.29 Support: 36.75 / 30.02 / 29.72 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
SHOP 18% rip since last post 2 days agoSHOP nice rip from bottom of base to top of base with good volume too. Close above 40 is really good on it. 41.40 is the top of the base. Once that breaks, the actual breakout is going to start. I am not really sure if we breakout of the base since ES is also at a critical resistance area around 4000. Can be played both ways on it. Short here with 42 as SL or long on breakout. Mentioned about SHOP breakout when it was back at 34 2 day ago. Link is attached below for that post. UP 18% in 2 days. Calls are up 700% on original trade and rolled it up several times which are up 500% too. Lets see if we can get another one of such trades here.
NYSE:SHOP
by savage_Trader
Shopify Sale? Shopify Short Term We look to Sell at 38.34 (stop at 41.99) Trades with a bearish descending triangle formation. The medium term bias remains bearish. There is no indication that the selloff is coming to an end. The bias is still for lower levels and we look for any gains to be limited. Preferred trade is to sell into rallies. Our profit targets will be 29.94 and 24.29 Resistance: 39.50 / 74.75 / 89.30 Support: 29.85 / 13.20 / 4.00 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:SHOPShort
by Saxo