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Shopify Inc.

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SHOP trade ideas

$SHOP Short Opportunity$SHOP $537 level to watch to get shorts out of their positions and puke it up. Monthly VWAP has been acting as real resistance with some flattening occuring signaling some strong buying/covering here as volume and OBV also checks out here. Still a daily bear flag, but this is a similar fractal pattern as you will see on all timeframes from 1 minute up to daily/weekly, sometimes what looks to be easy shorting turns into a short squeeze that only serves to knock you out and flip your bias as short term as it maybe.
NYSE:SHOPShort
by Todoubled23
SHOP ready to reverse?SHOP is showing an interesting setup. Previous support now acting as resistance ($450). This is also a strong psychological level. If we break and hold above $450 there is room to $510 Trade idea: Entry price: $450 (Break and hold above) *Always wait for confirmation* Targets: $472.50 , $490 and $510 Option Strike: 510c 5/6 (Currently trading at $10.80) Stop Loss: $405.00 Disclaimer: This is not a trading advice nor a buy/sell signal. This is for educational purposes only. Trade at your own risk
NYSE:SHOPLong
by TheBullandBearLounge
Short term rally for ShopifySHOP has caught my eye. TA: The price has been consolidating at the bottom of the latest downtrend. • Heikin Ashi bars are all largely dojis or slightly positive after a strong downtrend, signally a possible reversal. • Fibonacci retracement levels are all positive. • EMAS are inside the Fib levels. First resistance would be the 50 EMA and 0.382 Fib • RSI has been oversold and is now increasing • MACD histogram has turned green with a positive crossover of the MACD / Signal line Target 1: First resistance would be the 50 EMA and .382 Fib between $545 - $550 Target 2: If the 50 EMA is flipped the next resistance level is the 100 EMA and .618 Fib between $625 - $645 The newly found positive moment may start to flip the remaining EMAS with the 50 and 100 crossing the 200, which would be a full trend reversal. The stock market sentiment is still bearish for now, so we might just see the first 2 targets. FA: Shopify will release earnings report on Thursday 5th May before market open. Tradingview has the EPS estimate @ $0.64 with a Rev of $1.24B Earnings whispers has the EPS estimate @ $0.97 with a Rev of $1.25B with a 26% Expected revenue growth. Potentially a beat on EPS and good growth will be a good catalyst. Buying today when market opens.
NYSE:SHOPLong
by HolleyIG
SHOP: BOUNCE ZONESHOP (Shopify) has dropped 70% since November 2021. Yes we can drop more. However I like the risk reward ratio here as the price is now sitting on a trend line (in green) connecting the lows of Nov 2019, March 2020 and March 2022. The weekly RSI is slightly oversold and we're starting to see a bullish divergence . Bonds are bouncing already, which could support a bounce in growth stocks . I'm a buyer at this level for a possible bounce to 640. I can cut my position quickly and without too much damage if I'm wrong. If we drop more, the next levels are between 437 and 413... Trade safe.
NYSE:SHOPLong
by Elpidaldo
2
Was the SHOP sell-off predictable?Of course it was! It reached both of my price targets: And now i think it will go even lower. My experience as a seller on 2 Shopify stores was terrible in the past 4 months. I had a decrease in sales of more than 60%. My friends with on-line store had the same experience. So if the merchants don`t make money, neither do Shopify. It`s hard to believe they will come up with a good quarter. My buy area is lower than $400. Looking forward to read your opinion about it.
NYSE:SHOPShort
by TopgOptions
2
Absolutely Wild Sell Off For Shopify (NYSE: $SHOP)! 🛍️Shopify Inc., a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company's platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing. It also sells custom themes and apps, and registration of domain names; and merchant solutions, which include accepting payments, shipping and fulfillment, and securing working capital. The company was formerly known as Jaded Pixel Technologies Inc. and changed its name to Shopify Inc. in November 2011. Shopify Inc. was incorporated in 2004 and is headquartered in Ottawa, Canada.
NYSE:SHOPLong
by RedHotStocks
1
SHOP Long off Monthly DemandAs is with most stocks right now, SHOP is returning to the former breakout area from march. The market does this time and time again. This area is called Demand. The first time back to Demand typically results in a nice rocket ride. While the high time frame demand zone is the most ideal place for a long, It is also possible that shop bounces from this area which is the market maker discount zone. If they want a deeper discount they will visit the equal lows indicated by the pivot markers or somewhere nearby in the demand zone before taking off.
NYSE:SHOPLong
by Midgar-
4
$SHOP 30m and D linked**$SHOP** This one looks a little tricky but my heart and mind are calling it against the algo flow... Algos have $SHOP going long. I think the bull flag failed after the gap down and created bear flag with a green bar where everyone is getting caught up in. You can have a green bear flag. Then there is a head and shoulders inside the flag. I think we will rise just not yet. I have $SHOP breaking down to 690s tomorrow then I have it going further downside into the right shoulder of an inverse head and shoulders. IMO we break to 690s tomorrow then we dip into the inverse head and shoulders bounce to retest the neckline then drop into the right inverse shoulder at 581-561. Then we start to rise out of that and head for the 800-900s.
NYSE:SHOPShort
by Riskitpaid
11
$SHOP Key Levels, Analysis, & Targets REQUEST$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
NYSE:SHOP
by SPYder_QQQueen_Trading
3