Get started
Shopify Inc.Shopify Inc.Shopify Inc.

Shopify Inc.

No trades
See on Supercharts
Overview Financials News
Ideas
Discussions Technicals Forecast Seasonals Options Bonds

SHOP trade ideas

Shopify - note volume bars at $1127 to $1306Might face more selling pressure, but could make a run towards $1300. Either move seems plausible to me (but I favor the move up). Note the three plateaus in the recent sell off, and the 2 volume shelves at $1306 and $1127. Shopify has been under pressure for 4 weeks now. And was facing strong selling pressure during the first hour this morning (Friday 3/12). But almost closed green for the day (green shoots of spring?). Remember this company recently reported almost $3 billion in revenue in 2020, a topline growth in excess of 80%. Disclosure (I'm long Sep 1100 calls, and a handful of shares).
NYSE:SHOPLong
by goledger
Support and Resistance for SHOPThe dashed lInes repersent some weaker support and resistance where I expect some price reactivity. The solid lines are historical supports and I expect for rejection or larger moves to take place off of. Lows have been swept up last week with large volume which could be a combination of short covering or confident buyers adding to their position. This is significant because it shows that despite the markets downturn, there is still some bullish activity in the stock. This stock has a beta of 1.56 so it will be generally more prone to market volatility. After a worse than expected Earnings report coming in at .99 a share (1.24 expectation) the stock corrected from its pre earning run up. From here a full retrace to 1204 which was a generally accepted price between buyers and sellers is possible. There is also the possibility that price runs back up to the gap at 1322-1335, this could be a very reactive area. Sitting under the December highs I would say that there isn't much of a bull bear bias for this stock quite yet as the market corrects and with the bad earning's report. Note that while Shopify is a leader in it's category- companies like e-Bay, Amazon, and Walmart all offer integrated e-commerce. Furthermore BigCommerce now offers their sellers a chance to directly market and sell their products on the Walmart Marketplace which could be huge for the brand.
NYSE:SHOP
by crawfordpaul
2