SHOP puts for day tradesDouble top here on SHOP can possibly see a bounce up to $708-$710 levels before coming back down to complete the pattern.
SHOP trade ideas
$SHOP Key Levels, Analysis, & Targets REQUEST$SHOP Key Levels, Analysis, & Targets
So shop has been obviously selling off pretty hard since December. I would expect to see some choppy price action between 530 and 840. The MacD on the weekly doesn’t really support a huge up move from here just yet… I would expect to see a while of consolidation before any directional move...
I would keep an eye on the Daily and the Weekly macD.
The daily looks like it’s getting rejected from crossing up so I’d be looking down to the 530 level. If that level holds then I would start to add a little bit… If not, there’s not a whole lot of support until you get to around 305.
305 is actually also the covid low.
Also keep an eye on the 2019 top @ 404… this is an important level to hold.
The only places I would buy are the support levels in green… and they also become sell levels on the way up…
I hope this helps… sorry I felt a little bit rambly here…
IF you don’t have a position I would personally wait… but if you do use the levels in green to add and bring your average down.
I’m not in ANY way suggesting we get that low, but these are the key levels to stick too no matter what happens…
Also, this is in logarithmic mode...
By Request for @janatztxx
SHOP Ready for Breakout or PullbackSHOP run bullish momentum recently and has been consolidating for more than 4 trading days and volume is decreasing. If the overall market remains bullish it could move higher else we will see a little pullback before another bull run.
Up Trend for shopifySentiment : Netural
Trend : mixed
Fundament : strong
Opinion : positive
Trend line breaks out
High volume activity
Bullish harami chart patern
Next target : 1100 $
Stop loss : 798
$SHOP sign of reversal here?we have to confirm our support , to see the first sign of reversal, which we have to pass our first resistant , then the second resistant where we see a massive confirmation to bullish continuation
SHOP (1D) - Dead Cat bounce coming ? Hi Traders, its alredy some time since my previous Bearish analysis for Fintech and high Growth companies.
Seems like we got first impulse on 1D chart. RSI is positively COnverging. What could mean a retrace after huge DIP for many stocks around (MINUS) 50 to 90% from ATH.
Yes, this will be probably quick / sharp retrace, most of the retail will get in too late just on top of Wave B. Be prepared and always use stop-loss.
Stay safe (sane) and enjoy the ride ;)
Previous idea for SHOPIFY
SHOPIFY - BULLISH SCENARIOShopify Inc. is preparing for a test of the first major resistance level located at $710.
Successful breakout will push the price to the 2nd resistance at $800.
On the other hand, if the attempt is not successful, we may witness a retest of the $520 support.
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$SHOP with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $SHOP after a Negative Under reaction following its earnings release placing the stock in drift D.
Shopify - CAD - Crucial ResistanceShopify - CAD
In Crucial Resistance
Should trade above 707 on a daily timeframe
can expect a short-term target of 10% up move.
SHOP, Lots of long and short opportunities ! We keep it on watchSHOP is beautifully offering lots of long and short opportunities ! Are we prepared in advance ? Of course we are.
SHOP has started new motive rally from 1005.14 on 26 Mar 2021 and so far has completed wave (1), wave 1, 2,3 and probably wave 4 of (3) and now is probably completing wave 5 of (3) which will terminate at two proposed strong resistances which are 1641 and 1710. After completing this up going wave, there will be a short opportunity to catch wave (4) down to 1405 , 1333 and 1260 corresponding to 0.382, 0.5 and 0.618 Fibonacci levels respectively.After that, another and last up going wave (5) will start.
After making a new ATH , there will be a great short chance down to prices below 1000. Who wants to miss the chance?
Please note that, this is the most probable scenario for now. Should it need any update, it will be done later.
We are prepared in advance to make profit. We trade smartly and objectively. We see the chances but never jump into the trade blindly. Right?
SHOPAbove the yellow line, the targets are above in the chart below it. The target is below, and the most important thing is not to break the area below by closing a day candle
Shopify | Distribution Phase | SupportShopify will test the support and it is a hard support so it'll enter into the distribution phase after that.
Shopping at GAPs..!These days, your stocks create big gaps (usually down side) after earnings!
Some People think this could be a good opportunity to enter a long position.
but
Is it really good to do that?
My simple answer to this question is:
No
Why?
Look at these examples in the past few months:
FB:
DOCU:
PYPL:
F:
ZM:
PINS:
WISH:
UPST:
BABA:
I hope you are convinced by now..!
Best,
Moshkelgosha
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SHOP is a BUY at current levelsLong SHOP. Shopify has gone down from $1800 to $660. Bases on the trendline and Fibonacci it looks like a buy. What are your thoughts?
SHOP bullish setup SHOP Thursday put in huge reversal candle w the rest of the market. Above average volume on the day. RSI bullish divergence noted. This looks ripe to test breakdown candle high in the 730 area, and then if it can really get going it can fill the gap up to 840. I saw a lot of 03/18 calls come through yesterday and today too. You could look for 03/18 800/840 call debit spreads here for a play on the potential gap fill i think
Buy opportunities There are many sellers locked in and we would look for a potential entry at the areas/levels of value.
SHOPIFY: Can the hole get bigger? The answer is YES!I would not want to be owning Shopify stock this year. I think we strike one more low to the .5 retracement and then bounce up to about $1000 for a B-Wave, before a final C-Wave down to the $210-$330 region. It will be a painful year for Shopify owners I believe. The move down so far does not resemble ABC structure. Also, it needs to be longer in terms of time. Good luck.
Shopify Inc support brokenShopify Inc. is a Canadian multinational e-commerce company headquartered in Ottawa, Ontario. It is also the name of its proprietary e-commerce platform for online stores and retail point-of-sale systems.
