SHOP - decision timeOK - I'm biased and long calls expiring next week. My bias says this wedge will resolve higher. If it does, the move could be explosive. Wait for confirmation - acceptance above trend-line.
SHOP trade ideas
Psychology For AllLet's face it COVID has been challenging for many people and someone reading this might need a pick me up!
This is a different post related to the noise coming from the media. I am here to share three stories related to trading and investing... stories of success trusting your gut not the noise.
My Bitcoin Story... In 2017 I tried the online game second life, not by choice but was doing research regarding the construction of these virtual communities. A player showed me how she was building homes for people and being paid in Bitcoin. I was blown away and was always searching for a side hustle. I began to build and collect BTC as a hobby and something I began to enjoy (always was a gamer..still am lol). I was fascinated by the DW at this same time. I did not invest in stocks and did not even have a trading account at this time... only GIC... I only bought and received bitcoin. I never ever thought Bitcoin would appreciate the way it did. Since then I sold my BTC at 18,000. I have bought back twice since then once in 2019 when it went oversold, and again during the COVID sell-off. FYI I am out for now but still own my second life coins I cherish as a memory now.
A year or so ago, the motley fool paid service issued a "sell" alert on TSLA when the share price was around $175. Anyone familiar with the Motley SA services knows it is pretty rare they issue a sell alert in the paid services. I sold my shares a year and a half later for over $1,000 before the split.
Citron, here is a story. I have owned many shares of Shopify since the beginning as I felt I knew this area well. At around $190 Andrew Left short Shopify “Left is so convinced that he is right about Shopify that Citron has pledged to donate $200,000 to the Robin Hood Foundation, a charitable organization if Shopify is trading over $200 in 12 months.”.... lol my shares are in a better place now well over $1,100. These guys play dirty do not listen to any free information. Still have yet to see the donation...
My biggest gains have always involved some Pepto and lost sleep. It is always easy to look back and pump your ego but I look at my journals and this was far from the case at those exact times.
Think outside the box, trust the process, and most importantly trust yourself over everything and everyone!
People will always hate on you if you win or lose. Sadly jealousy is the most overused emotion.
“Failure will never overtake me if my determination to succeed is strong enough.”
Amazon vs Shopify (The corporate marketplace vs local merchants)In this simple chart I plot the price of two assets: Amazon and Shopify. I am looking at their percentage performance over the last year. Sometimes a simple chart like this is all you need. Who is performing best on a 1-year basis? The market is very competitive and companies are always vying for market share. The battle between Amazon and Shopify is one to watch because, in my view, it says a lot about the economy and consumer preferences.
Amazon is the big corporate power player. They are the marketplace of all marketplaces. Amazon even competes with their sellers.
Shopify helps any business build their own local marketplace or store front. It seems small businesses and startups go the route of Shopify. They build their own website and sell from there. Rather then going to Amazon, giving up a cut, and possibly being copied or competed with.
Amazon vs. Shopify has been a battle that deserves more attention. It is key to the future of ecommerce.
And so I share this chart because, perhaps over the coming years, we may be witnessing a shift from the large corporate aggregators to a more diverse and spread out ecosystem. Will Shopify continue to outperform Amazon? Will Amazon ever build a competing product?
This has huge ramifications for the entire market as Amazon is one of the world's largest companies and integrated through out ETFs and other leading assets. Additionally, while Amazon's Web Services are a huge component of its business, the competition increases fast. Google, Microsft, and many others all want a piece.
I will have this simple chart up for some time. Curious to hear your thoughts.
Shopify, Inc. (#SHOP) - First target @ $ 980NYSE:SHOP
Technical Analysis: Shopify, Inc - SHOP
💡Shopify 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
#SHOP has been one of the stocks that benefited the most from the Covid 19 crisis: in March 2020 the price was at $ 350.
Since July 2020 the stock has enter in a consolidation channel between $ 900 and $ 1,100.
📈 From a technical perspective, the stock has been posting lower highs since the beginning of October and it is now consolidating on the lower side of the channel.
The MACD is approaching a reversal and with the RSI at 42 the stock has room for a potential upside.
We exclude for the moment an H&S pattern and we identify to target prices: the first one at the 50MA and the second one on the higher end of the channel
Buy price $ 914
First target $ 980 (+7.19%)
Second target $ 1,080 (+18.13%)
Stop loss $ 820 (- 10.31%)
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great long term holdnice little trend channel here at highs, but dont expect any insane movement. i think a good price target would be 1400 by mid 2021! good for shares but not calls imo ! goodluck to longs:) leave a like if you enjoy my charts <3
Symmetrical TriangleSymmetrical Triangles can break up or down. For the time being this one seems to have chosen to break up..something tells me to be careful (o:
A doji noted for last candle in the weekly and monthly timeframes. The weekly candle is a long legged doji. Knowing your candles can help tons!
Pull back today..
T2/long term targets are as stated, longer term as a rule and often occur after a pull back of some type has taken place...
Keep an eye on overbought levels via RSI. It is not overbought today on daily RSI. Some prefer the RSI be over 50 to initiate a trade. Some will only buy if the security is oversold. We are all different. Overbought and oversold levels are subjective but it catches my attention when these levels are reached. The RSI can remain at extreme levels for long periods in a strong trend..
The Relative Strength Index (RSI) is a momentum (MOMO) indicator originally developed by J. Welles Wilder. The development of the RSI was to measure the magnitude of change in price action while offering signals of “overbought” or “oversold”conditions. It is considered a Leading Indicator.
RSI is a momentum oscillator. Some use 80 (overbought) and 30, even 40 (oversold) as a setting for RSI in a bull market and as low as 60 for overbought levels in a bear market. The strongest markets tend to stay above 50. In this market, seeing a stock become oversold is getting a bit unusual. I do not know if that is a good thing or not..LOL
There are “Bullish Divergences” and there are “Bearish Divergences”. These can signal a change and it is when the slope of the RSI does not agree with the slope of the trendline on price. A divergence may or may not mean there will be a trend change but it is good to be aware. It is often good to double check the possible divergence in the weekly timeframe
As a definition, RSI is a momentum indicator that compares the magnitude of recent gains to recent losses in a range between 0-100. Traditionally, a reading above 70 is considered to be overbought, while a reading below 30 is considered to be oversold.
Not a recommendation
Good idea to do your research. The market will give you enough rope to hang yourself if you let it
Rainy days and bad market days always get me down)o:
Shopify trying to re enter channelWhite lines - daily channel
yellow line - Support
Greenline 1234 - Resistance/ Channel entry
greenline 1278 - target ath/ Tweezer tops
In my opinion might need a strong up day on the Nasdaq to reenter or maybe some stimulus news which ecommerce stocks benefit from
Eyeing an entry in SHOPSHOP has been in a nice uptrend and recently has pulled back to 21 EMA. All the major EMAs are stacked positively. A bounce from any of these major Fibonacci support zones would be a good buying opportunity.
$SHOP | Shopify: Bullish Falling Wedge Breakout [Update] $SHOP broke out of the falling wedge. I expect further upside. Targets $1080 and $1200. Stay tuned for updates. Good luck!
Previous idea:
$SHOP Shopify Potential Day Trade
Potential day trade setup.
Alert set for break the 12ma and local POC @ $ 1175
Target $1224 to the next volume shelf.
SHOP Potential Bounce SHOP has been selling off the past few days on low volume. Should push higher if it can hold 1130
$SHOP | Shopify: Bullish Falling Wedge$SHOP has formed a bullish falling wedge. Watch for a breakout.
Targets on chart.
Good luck!
SHOP - on the back-way to the "pre-earning" support line. NYSE:SHOP is going back to the support line before jumping to the sky after an earning report
target is 930
the entry point is 1090
stop-loss 1130
good luck to every one
SHOP Catching Support?After breaking its 5+ month range on 12/16, SHOP appears to be taking a breather onto support at the range high of 1112 level. Volume tapering off after the holidays. Waiting for confirmation of a bounce. Break of the upper trendline on price and/or RSI.
Shopify Strong Support Long & Possible Continuation Play
SHOP Daily timeframe seems to be testing top of previous range which is a strong support
Volume dropped until last hour
Bullish divergence on hourly RSI
Bullish volume spike last hour of the day (highest hour volume of the day)
My target is previous resistance range
This Is Not Finacial Advise
Shopify showing Head n shoulders on 4hoursShop had a rough week last as it pulled back from the top of its channel. now its forming a bearish head an shoulders and the bottom of the channel. If pattern form our first target will be support at white line. if channel holds , would be a nice dip buy
great play 2 years ago ! haha. but is shop a good long at 1100?stuck 900-1100 range for 7 months!! might be a good place to get longterm puts since we clearly cannot hold over 1100 without shorts attacking. a break under 900 will be ugly! goodluck to longs here but be very careful. consolidation like this can last for years.
SHOP@1172:Retracement likely to $1000 from a 40% gain of Nov LowThe stock gained near 40% from its Nov low of 860 to a recent high of 1285, propelled by a 3D Squeeze that fired for 7 bars. Squeeze usually fires for 7 to 8 bars, so we are likely entering a consolidation phase with a probable retracement to $1000 or 50 MA.
It's Stoch/RSI has a good history of forecasting price trajectory and the last candle also hinted at a high open/low close.
SHOP is very liquid and not subject to a short squeeze, other than enthusiastic buyers who have demonstrated less power to move growth stocks in the past week or so. There is a hint of rotation from high powered names to companies with real profit.
