Love this support areaSHOP has seen better days but I think the worst of it is over. Holding support and a solid R:R long entry area. Longby C0o0kieUpdated 3
Lots of high volume outside reversals today in growth stock landThe market has been moving higher nicely over the past few days, particularly in growth and tech stocks, however, throughout today's session we saw that momentum reverse with a large number of outside reversals and stocks trading from green to red. Most short and medium-term trends remain in tact higher. by EvanMedeiros1
SHOPIFY (SHOP) LONG!Shopify has seen a massive sell-off for quite awhile now and looks like we might be bottoming out for now. We need more time to determine if we are still bearish or reversing. I would like to see a break through those red resistance levels before taking a position.by BentleyStirling0
$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.Longby twotimezinvestments114
Shopify is coiled and ready for a massive ripper to the upside. Looks like SHOP has finally found a bottom at around $30 and is now trading inside an accumulation range between $30 -$40. Also volume has picked up since may and I expect a first take profit target of $70. Longby MoneyForNothingAndPipsForFree4
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. Longby Decam9447
Keep on watch todayin some calls from yesterday, if market can hold this has a lot of relative strength and can head back to $40. Longby Option_TradersUpdated 114
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! --------------------------------------------------------------------------------------------------------Longby TradingShot3327
SHOP TO 50 BUCKSBeaten down Index wants to fly Nice zone to accumulate 50 buck target NOT TARDING ADVICE GRI 2022by Great_Reset_InvestingUpdated 3
SHOP in consolidation faze! watching closely needs to break above 41.45 before i consider a long position, or break below 29.30 for shorts, we will see huge moves once one of these levels breaks.Shortby Vibranium_Capital5516
SHOP: RECTANGLE PATTERNSHOP (SHOPIFY) Nice rectangle pattern with prices ranging 30 and 40. Rectangle can be either continuation or bottoming/reversal patterns. Now trying to break the top of the rectangle . Price also above EMA 50 which is positive. A firm break of 40 would trigger a long trade to 54, with numerous resistances on the way, including a gap (see lines on the chart). Stop loss just below the 50EMA Trade safe!Longby ElpidaldoUpdated 1
SHOP- rectangle pattern - shortShopify stock is in the range . It looks like the price is creating a rectangle pattern which may break to the downside. Enter the trade if the price breaks below the rectangle and it retests the bottom of the rectangle as a resistance . Target and the stop loss are shown in the chart.Shortby vf_investment223
SHOP IN THE RANGE - long positionShopify stock is in the range. The price is currently testing a critical support. If the support holds, there is more upside potential as the price remains in the range. Entry , target and the stop loss are shown in the chart.Longby vf_investment5
SHOPSHOP is at support level lets see if it holds till tomorrow, Earnings may flush it down.,,,by Lucky6710
$SHOP emergency - down 15% pre-marketSHOP has been hovering around the covid lows for months now. Earnings coming soon. If we break the $30.50 support, hasta la vista, see you around $20. Bad times for this stock, sadly. Shortby Liathetrader0
$SHOP shopify is sinking $SHOP shopify is sinking, Don't touch this stock as long as we are under 45$ (level of interest).by zakalj1
Failed Breakout = CrashShopify has been trading in the graphed region for roughly a quarter. Strong resistance + Strong support. Recently it breaks the resistance but once again fell into this wedge region. Looks bearish in my opinion. I am aiming $30 at this moment, but if that doesn't hold I would like to see another corrective wave which sends it down even more/Shortby Kujo_Qtaro0
$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.by SanchezAxline1
Long game in ShopifyI see the we are in the accumulation phase of the stage 1. I'm adding shares here because based on the trend that is setting up it is ready to return back to the 200 day EMA at about $70. That will with time double your account and this is my target. I'm going from $36 to $70. The MACD is showing strength for buyers and the RSI is not oversold. This will take time so be patient. Longby GlennTrading111
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. Longby Saxo3
$shopincreasing momentum and strong descending resistance breaking keep on watch for possible channel break out tgt 48 keep an eye on 09/17 50calls Longby Pedro_Tradez0
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.by savage_Trader4
SHOP Looking to test $40 Supply ZoneHello fellow traders, SHOP has been getting rejected at this price point since May 13. If the market continues to trend higher I am looking to see SHOP come down to its $35 support and push through this $40 supply zone. If it fails to hold $35 looking to see SHOP come down to the $31 demand zone. Thank for reading.Longby Zorro_1