SHOP trade ideas
Shopify channel update On strong week from the exchanges shop Made it up to 1294 but has got rejected off the Resistance (Yellow line)... headed back down to 1150. might break out of that range with earnings
Shopify Stock To Keep In PortfolioHello ladies and gentlemen, according to my graphical analysis I recommend to keep as much as possible SHOPIFY INC in your portfolio and of course to avoid the sale because graphically and technically SHOP Stock has broken with force a very important resistance (R1,R2) proven with a great probability the increase of SHOPIFY Stock.
My Next Target is at least 1850 in the next months .
Definetly going up into earnings - Triangle pattern I think we all agree the wonderful triangle will take us to new highs. I have been trading and following SHOP since the $200's and she has rarely disappointed. I was hoping after last earnings she would spike as usual, but no. This time she will! :) GL! and $$$$$
LING LONGConfirmation done on 1hr so its good to buy at market open if price opens at our Entry Point
Shopify pre-earnings target pricemy current GUESS is $1205 - $1225 prior to earnings. Wouldn't be surprised by more.
$SHOP | Buy Within Wedge Structure & Watch For A Breakout$SHOP is trading within a bullish wedge above structure.
Look for long to the top the wedge structure to $1200
A breakout of the wedge can lead to previous highs at $1280 and then new all time highs at $1380
Between a rock and a hard placeA close up view of shops journey in its weekly channel (White lines).
As you can see that yellow line of Resistance has held since the summer, it even held through shop epic 300 point xmas rally.
Even still shop is at the bottom of its channel with 1300 Resistance, could be a perfect time to go long with earnings around the corner.
SHOP Short going into EarningsNYSE:SHOP has showed weakness in its consolidation and appears to have distribution of shares taking place. The volatility is evident in its volume and jumpy prices overnight and otherwise. It closed above its weekly value and short 2 weeks before earnings makes sense due to the likely increase in option premiums. While the market Shopify covers has become saturated and profitable, if there is anything less than expected earnings reported a short now could be a nice leg into a longer term position. My two short term targets are on the chart one at the bottom of it's trading range and one right above an area I expect to hold some nice liquidity. My long term target (post earnings) would be closer to the November highs for Shopify.
doing a little SHOPinglet's see how much premium we can snag here... opened @ 22.40... looking to close before earnings
Shopify found support at previous resistanceShopify found support at previous resistance I expect a bounce from here
$SHOP - 5-count Pennant Breakout Opportunity$SHOP is showing incredible confluence in Fibonacci in addition to a 5-count completion on it's most recent bullish pennant.
This is pre-breakout but is looking likely to happen this week - targeting previous highs and creation of new ones!
First entry: $1217
Confirmation: $1238
TG1: 1245.91
TG2: 1260.69
TG3: 1286.14
TG4: 1322.59
TG5: 1347.15
Invalidation under: 1153
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SHOP looks okay hereRemember Shopify ran from $880 to $1280 mid November to Christmas. It will surprise you.
I don't know why it sold off almost 4% yesterday, but I like the stock here and volatility works both ways.
SHOP 4H BreakoutSHOP setting up for nice breakout on 4H, Entry above $1215 PT $1280. Stop below 4H trendline
Shop on the move! Squeeze and S Triangle on the Day.We had a Squeeze on the week and are about to have a Squeeze on the Day both with Momentum above zero :) . We are coming to the end of the S Triangle and with that are going to come new highs. The next couple weeks should be interesting.... GL!
BTW... I own SHOP, AAPL, ENPH, TSLA, and of course SPCE (Goldmine!) All are on the move and I recommend all of these. Other that SPCE who's profits will surge later this year all of these have high Revenue and Net Profit Margins.
Others I follow and buy or swing time to time MKTX, QCOM, SNE, TTD, NIO, CRWD, DDOG, SQ, IRBT, MA, V, GS, JPM and of course AMZN.. and many more
Near breakouthas held previous ATH a few times now, weekly inside candle looks ready to go, watch for breakout
