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Shopify Inc.

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SHOP trade ideas

Watchlist 2023-06-16 $ENVX $CRWD $MU $SHOP $CMAAMEX:SPY hitting 14 month highs on Thursday, rallying this Friday the morning, likely lead by NVDA's price target and weighing upgrade by MS. Changing their price target from $450 to $500l. Chips stocks gapping up For further confirmation of a trend day, watch for: USI:ADD pinned near +\-2000 USI:VOLD ratio over +/- 3 USI:TICK cumulating past 0 wicking to +/-900 NASDAQ:ENVX - Enovix hits Q2 milestone early, producing 18K battery cells. Gapping up 1.75 ATRs ABOVE the yearly cup and handle res at 15.25. HOWEVER, RVOL at time is only 0.4 so we will need to see the vol pick up in the morning, Typical first 5 min bar is ~100K , so a 200K bar which be a good indication that RVOL has arrived. Support 14.72 Resistance 19.29 Inflection 15.25 Lots of other BO's setting up this morning. NASDAQ:CRWD - Mizuho Adjusts Price Target on CrowdStrike to $180 From $175, Maintains Buy Rating. Support trade off 161.40 if we see buyers stepping up. Need to has multiple touches of the key level and retest in the range for confirmation. If there is a weak bounce after the initial test, that is a signal to either reduce position or get out. NASDAQ:MU - rallying off NVDA's news that morgan Stanley increases their price target again from $450 to $500, while saying AMD will be a lagger. If MU can find a bid, there is plenty of room to 74. NASDAQ:AMD - if chip stocks sell off today, looking for find a place to short ADM as it is the onlly chip not rallying this AM. NYSE:SHOP = buy over 67 NYSE:CMA - RVOL over 2, over 44.25 is a long Comment what you are watching!
NYSE:SHOP
by UnclePennybagss
Someone accumulating SHOP post earnings?Yet another Wyckoff pattern. I believe this pattern matches the Wyckoff schematic shared in the chart. I am making my list and checking it twice... Wyckoff checklist: PS—preliminary support, Done SC—selling climax, Done AR—automatic rally, Done ST—secondary test, Done Spring - optional, Done Test— test, ACTIVE. We are looking for a series of higher lows to confirm the uptrend. We have yet to confirm the first higher low. SOS—sign of strength, LPS—last point of support, BU—“back-up”,
NYSE:SHOPLong
by Decam9
6
$SHOP Ready to Buy?NYSE:SHOP – I have been looking at Shopify since earnings and it looks to me that it is ready to buy, in fact I started a ¼ size already this morning. See chart for my notations. This may be actionable “if” it fits your trading style. It has been basing for about 14 months now. A traditional break-out would be a close over May 23rds high of 65.54. I am early and already a little underwater, but my stop will be a close under the earnings AVWAP (lime green line). Ideas, not investing / trading advice. Thanks for looking. Constructive comments always welcome.
NYSE:SHOPLong
by jaxdog
SHOPIFY targeting 75.00It's been 10 months since we last analyzed Shopify Inc. (SHOP) and called for a $60 target (see chart below): The stock recently hit that level and we now see that it's trading within a Bullish Megaphone/ Channel Up combo pattern. With the 1D MA50 as its Support and recent strong fundamentals, we now set the next medium-term target at $75.00 to fill Gap 3. The 1D RSI has been on a Higher Lows trend-line, clearly indicating the most optimal buy entry within the pattern. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NYSE:SHOPLong
by TradingShot
1