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
SHOP trade ideas
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.
