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Shopify Inc.

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SHOP trade ideas

$shop wave count - ATH's coming after upside breakoutShopify is consolidating tightly in a symmetric triangle w/ apex @ ~ 12/16. Based on my wave count it appears that it is looking to put in its final primary impulse to ATH's which will complete the cycle wave V of super cycle wave V. Meaning that after this last hurrah we likely will be seeing a very substantial decline (potential line up with bear market? I think so based on my cyclical Index charts). Right now it is bound tight with the 50 DMA and ATH AVWAP resistance above, and the 200 DMA and cycle wave II Pivot AVWAP support below. It just put together a reversal candle off of the 50% retracement, is that bottom for wave 2? Maybe. It is also possible that it has a slight earnings run up and then pulls back following, who knows. Either way - I think this will end with a breakout to the upside and we will first see 1585 - 1650 - then 1725 - and finally somewhere between 1800-2K as ATH before we hit real turbulence. How to trade this guy: Earnings are a total crap shoot and IV crush can completely ruin a position, so it is not worth the gamble IMO. Everytime I take the chance and run one I usually have it blow up in my face. For this guy, given the consolidation and triangle, it is best to alert the triangle break out and take a trade after the signal is given. Once outside of the triangle your stop is a breakout backtest failure (i.e. back underneath the breakout level). The first PT upon breakout is 1585 (and that run up should be a freeby with little resistance between 1500-1585.
NYSE:SHOPLong
by btwice53190
Falling Wedge- BullishShopify looking really nice here, certainly worth noting the 200 day EMA acting as strong support for SHOP as it has bounced off it three times since March, additionally Shopify does have earnings coming up on 10/28'. However, will be looking for a breakout from this falling wedge (Broader Market Conditions Permitting)- Just some support and resistance levels and some RSI based supply and demand zones to keep an eye on as well- bullish - Big falling wedge forming on the daily timeframe - EMA's starting to curl upwards - Hammer right off the 100-day EMA - Sitting on its 20-day SMA (Not Pictured) - Bollinger bands squeezing on shorter timeframes PT1- $1,435.50 PT2- $1,443.81 PT3- $1,451.70 + Breakout
NYSE:SHOPLong
by jacobosiason7
2
A quick analysis of SHOP, what can we see? Today we will take a quick look at the SHOP chart. What we can see here is: a) Ascending Channel, the price was rejected from the lower trendline. b) ABC corrective pattern (apparently finished). c) Support/Resistance zone (we want to see the price above that level, to think in bullish opportunities). Based on all those items, if the price reaches our green horizontal line, we will consider that to activate the bullish view towards the targets we have defined using fibo extensions. Our invalidation level will be below "C" either the analysis is executed or not. Thanks for reading!
NYSE:SHOP
by ThinkingAntsOk
2
ABC BullishPossible stop under C, or under 1285.90 or last area of support that you see. Sometimes long entry level can serve as support as this has passed that. Earnings 10-28 BMO/before market open. Long entry level can be important to hanging on so getting a good one can help in the long run. SHOP was below the bands set on 80 but quickly returned to the interior of the bands. At this moment I see a green Doji as the daily candle which represents indecision. No recommendation. Price is still under the 50 SMA which is a bit droopy and crossed down through the 20. Price is over the 200 which is sloping up. ABC Bullish and target is D. Targets calculated using the length of the AB leg and fib levels. The CD leg can sometimes equal the AB leg, or it can be a portion of it, or an extension of the AB leg. In this pattern C needs to be above A. B is the peak or the high of the pattern.
NYSE:SHOP
by lauralea
$SHOPShopify stock has made long-term investors a boatload of money. If you would have been able to buy shares of the e-commerce subscription platform at its 2015 IPO price, you'd be sitting on gains of nearly 9,000%! In this short period, the company has risen to become the largest Canadian company by market capitalization with a valuation approaching $200 billion. Still, the company has its work cut out for it to earn "four-comma status" by 2025. In the second quarter, Shopify did so by beating analyst expectations on the top line by reporting total revenue growth of 57% and its first $1 billion quarter. However, the numbers are even better than they initially appear when broken down by segment. Shopify's smaller revenue source is subscription services, the fees it charges sellers, or "merchants," to use its tools. The second is merchant services, which consists of the revenue Shopify earns from those merchants in the form of add-on services like payment processing and transaction fees. In the year-ago quarter, merchant services grew faster than subscription revenue, which makes sense when you consider the pandemic increased the demand for online shopping. This year's growth was led by subscription services, which was boosted by more merchants beginning to use Shopify's e-commerce platform and existing merchants buying higher-priced subscription bundles. When we take a look at the technical side of things Shopify looks incredible on the higher timeframes. Looking at the weekly chart we are currently sitting at long term support and this might be something you might want to keep your eyes on going into next weeks trading sessions. If price is able to hold these levels we could see Shopify continue it way up. When we move down to the daily chart for indicators we have; MACD curling RSI breaking above 50. Watchlist this.
NYSE:SHOPLong
by TheBlankFund