SHOP Continuation BreakdownSHOP has broken below its support of $900. Its still suspect to the rotation out of 'Stay at Home' stocks. I expect another day of selling until the 840 area where it will find support again.
SHOP trade ideas
BUY 960C SHOP DEC 4 With festival season coming SHOP looks a buy at this dip..... Can try 960C DEC 4 STOP LOSS AT 880
Approaching 838 Support and H&SShopify approaching supporting area ~838-839 and making Head and Should pattern. It should hold that neckline area.
$SHOP posted positive earnings with a Bullish outlook$SHOP posted good earnings with the PEAD projecting a bullish outlook for the stock, Price is currently trading between the lower boundary and the median line.
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SHOP inside daily candleset your alerts from todays high and low on SHOP for tomorrow. if it breaks either with volume, i'll be throwing down til it hits my target to whichever side it broke.
SHOP: SHOPIFY...UPSIDE POTENTIALWATCH price ACTION carefully ...
ALT: RED-TRACK...25% Chance DIP down before going UP
SHOP: Double TopDouble Top
Pros:
Descending volume during formation
PPS below 50MA
RS descending and below 0
R/R ratio above 5
Cons:
250RSI above 50
200MA ascending
ATR ascending
PPS still above 200MA
If confirmed:
PT = 652.58$
Technical Analysis for SHOP TSX 30th October 2020Entry point would be 1290 to 1297, BB is pretty much squeezed, seems like a good point of entry, if it breaks down further would wait until 1225-1240 the next level to enter. Watch how it behaves in the morning. Good stock for day trade and swing trade.
Retrospective analysiscomparison of where i thought the top would be initially to where the current top seems to be. Timing off by several months
SHOP earnings 10/29 price target $1200SHOP earnings are on 10/29 pre market. I expect it to fly past it’s 52 week high of $1146.91 and hit $1200 by the afternoon. Good luck and happy trading friends...
Bearish trend, reversal close to earnings? head and shoulders pattern in the formation since july. can expect it to drop to 971, the neck level by end of week as MACD entered strong bullish trend and closed below 50 EMA today. The only saving grace is great earnings which might drive it up but no surprise if it loses 887 where it found a lot of support.
SHOP TSX : Technical Analysis - 21 Oct 2020Based on daily time frame : Shop is currently in its down trend seeking its support levels S1 : 1270 and S2 : 1200. RSI is also depicting a downtrend. Anticipated buying range could be in the range of 1270 - 1290. If it breaks S1 at 1270 next buying area will be around 1180 -1200. Since earning date is near on 29 Oct, it is likely that the share price may go up after touching S1 level. Based on the historical trends shop's share price tend to go up a day before its earning date and is very short lived. Take your decisions accordingly for a short term gain.
SHOP Breakout 6th testSHOP has been testing the 1110 range several times over the past several months. Looking for another test to breakout of that level back to the high of 1145. A breakdown below the moving averages would void this trade.
SHOP on watch Waiting on a pre earnings pop.
If it can build above this box it looks promising. Watching the broader market is key.
If the QQQ starts showing some weakness this could be hit quickly with profit taking.
The market rips this has a good chance of ripping.
SHOP ( DAILY) - Cup & Handle BreakoutSHOP ( DAILY)
Buy above high of 1086
Target of $300 ( height of cup)
Cup and handle formed as on 1st Sept 2020 till 12th Oct 2020
Broke handle today on 16th October 2020
RSI > 60
Taken support at 9 day EMA on 15th Oct 2020
SHOP higher towards earnings 1200$Simple moving average pattern - 2-3 weeks before earnings
Same trend each earnings.
