SHOP trade ideas
SHOPDown she goes. Room down to ~845 plus level to trade again on the topside, which is bottom of box (No position)
SHOP looks broken! Target 200 day MA ~~ 700?SHOP has been acting very poorly over the past couple weeks and broke down further today. Failure to hold this level ~~ 880 open the door all the way down to the 200 day MA around 700.
$SHOP Tests Key Range Support as Thematic Engine Faces Key TestSHOP is one where you really have to ask yourself, "is this bull over?" Because, that's the implications of this pattern, one way or the other.
The larger bull market is about this stock, in many ways. It's about the gig economy, and SHOP is the most dramatic manifestation of that idea -- with hundreds of billions of dollars from DC in the PPP program flowing straight to folks in this niche as well.
But our short has been up by about $100. And we would put our stop at $1000 and let it play out from here.
Shopify: hourly reversal Hello traders,
Looking at the hourly chart for shop, we are starting to see hourly reversal as indicated by RSI and MACD bullish divergence.
I am expecting shop to test hourly 50MA in next few trading sessions. Bitcoin is starting to move upward and most likely tech sector will follow as DXY goes down.
Happy trading!
SHOP - looking precarious SHOP is looking vulnerable at the moment, after having formed what looked like an "imperfect" head & shoulders top. Watchout for the neckline which currently at around 900. Bearish if starts breaking below this level.
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
Why I bought Shopify today.After a three day drop along with increased volume during that time, I decided it was the right time to by NYSE:SHOP . See chart .
SHOP SELL TERMINAL PATTERNSHOP HAS RALLIED ABOUT 270% SINCE THE MARCH, 2020 LOW. NOW SHOP IS NEARING COMPLETION OF A RISING-WEDGE TERMINAL PATTERN. ALSO KNOWN AS AN ENDING DIAGONAL. WE EXPECT SELLING PRESSURE IN SHOP TO BEGIN TO ROLL-OVER AND THEN ACCELERATE DOWNWARD, INITIALLY INTO THE $800 TO $850 RANGE.
SHOP: Trying to Make A Squezee to $950NYSE:SHOP is going LONG. Probably trying to squeeze to $950 before making a small correction.
What do you think?
Shopify Has a Bullish TriangleShopify has been one of the strongest tech stocks since early 2019, leaving Amazon.com and even Tesla in the dust. It’s been quiet recently, consolidating in a tight range, and now that pattern is morphing into an ascending triangle with breakout potential.
SHOP began July by moving above $1,000 for the first time, having tripled from early April. It tried to gap higher following a strong quarterly report on July 29, but MACD was falling so the sellers knocked it lower. (This looks very similar to Nio about three weeks ago.)
But now MACD is starting to turn positive. SHOP has also held above its August 20 high and 8-day exponential moving average (EMA) yesterday. Those three patterns suggest the short-term momentum may be turning more positive again and moving back in unison with the longer-term uptrend.
This may be a sign of momentum buyers returning.
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SHOP at bottom of channel (Long)Shopify appears to be at the lower level of its present trading channel. May be a good point to begin anticipating a reversal. Although the markets are on a down turn for tech on the TSX as of last few trading days. I am going to watch for a possible long swing position.
The overall channel from June 8th supports my position. So does the more recent trading channel in the month of August, so does the moving averages because they are below the stock price and will push it up. Additionally, it has recently had a double top, so it may get really nice if it breaks through 1471 on the upside.
SHOP - done consolidation?Uptrend intact as long as it holds above the rising trendline (caveat!)
Long @ 1010 with initial stop @ 979. Once trade goes our way, trail stop upwards towards first target @ 1105.
p/s Should stock break below the rising trendline, I would exit position.
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
