SHOP: bottomed and ready to ripSHOP has bottomed out after completing a clean 5 wave move lower. It should retrace from here to $870. DO NOT MISS IT!
SHOP trade ideas
multiple time frame analysis/update⚡we are at the last line of support on this one, good chance we consolidate or bounce in the near future now.
but as always lets be ready to play both sides, I like long term call swings above 519.02, puts below 266.57
Shopify... Fill Your Cart ??Short term trade suggestion on Shopify (SHOP) on the TSX Exchange.
Confluence of a Harmonic pattern and a Pitchfork (secondary bounce off of the outer channel.)
Nasdaq showing signs of a short term bottom. This is key !
$410 -$414 would be my preferred entry level on a point D retest.
Don't be greedy. Use a tight stop.
Do your own due diligence and respect overall market sentiment.
S.
Break of structureBreakdown of structure with series of Lower Highs
Waited for pullback on 30min and brought puts on continuation
SHOPIFY Bottom PotentialAn upward channel can be drawn from a strong trend line point on SHOPIFY
It provides a chart like this, showing a clear top, and also a potential bottom that aligns with the 4.618 fib
An attempted support can be seen to have formed at 2.618 (yellow)
This leaves 4.618 as a bottom point, which has also been seen as a bottom in the past (green)
Two bullish chart patterns can be seen on chart along with one bearish
Ascending and Descending wedge both acting bullishly
Followed by a Double top, considered a bearish pattern
SHOP to 250 ????$SHOP Darling of small businesses during Covid Lockdown seen hughs of 1700s now trading at a mere 300 level. It is currently below its IPO VWAP and at a last strong support. Doesn’t mean it can’t break.
$250 will be the next . Caution
SHOPNo position, Waiting for some conformation, Currently looks ok next Supports are at 280, 160 area, lets see if it holds 320 area.
SHOP - Will it roll over again or BTFD?
Price lost the 11 EMA again, but showing divergence now on daily. If it can claim EMA today, I like this to break to the upside.
Trend is clearly down, so price likely to continue to push lower on any pop, but if you have a long horizon, not a bad spot to open a position with tight stop loss.
I went long at 350 today, 8% stop loss for now.
Swing Play into Stock SplitThis is very risky given market conditions and recent price action in Shopify. This stock has gotten completely beaten recently, maybe its just the Canadian curse. We are in a bearish market so this can easily be wiped out by tomorrow. Please be careful.
Now i dont recommend trading during these conditiona but i have been accumulating this stock for the long term but i do believe a possible swing trade is presenting itself.
Shop looks to be breaking out of falling wedge but so far only peaking. Bullish rsi divergence. I think people will want this stock back at 1000$ before the split in july.
Price was declining on smaller volume but we need it to pick up to really have a nice move up.
I would wait for retest or confirmation before entry, use tight stop losses i suggest ~360 ish.
SMA 50 and 200 acting as major resistance.
For shorter term PTs: 486, 540, 600.
DYOR.
SHOP is ______. Coming from mostly crypto myself and many others are exploring other markets
$SHOP is _______
A King Maker Trade (wildly undervalued, if done properly with options this is a kingmaker trade.
Bear market could drive this thing down though idk tho nfa
Bias more on upside. 15 May 2022
FOMO, investor entered into Shopify after 80% discount since the all time high. Weekly volume showing strength on last week purchased.
RSI showing bullish divergence
Resistance: 650
Support: 320
SHOP Support reached. Ready for a reversal soon.Shopify has a plan to dominate and they're not just reaching entrepreneurs and small sized businesses these days.
They're gunning for large retailers and they're making ground.
Especially with web developers salaries increasing and a shortage in experienced devs around the world. Junior devs are desperate for a start but lack the understanding to not be a burden on companies to train. Shopify provides the option to save businesses from this problem in a society where shopping online becomes more frequent and an important tool to reach more and more consumers.
Orton Capital Shopify Longlonged shopify, good on support and looks like the stock market is slowing the selling
Shop can bounce but will it go lower?Companies like SHOP have been going through a 2000 like bubble pop. The only question is there further down to go? using the nasdaq 2000-2003 fractal we can support the structure is complete or is due for a bounce and one leg lower.
SHOPIFY-SHORT TERM BULLISH SCENARIOQ1 miss and forecast for a lower revenue growth led to new selloffs and a 15% day drop for Shopify. The Canadian company lost more than 80 % from its peak in November 2021.
$300 is a key level for Shopify if a breakout occurs drop to $180 will be inevitable. On the other hand, the $300 level may be a good positioning opportunity for a short-term bullish scenario to the $ 400 resistance.
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$SHOP with a Bearish outlook following its earnings #Stocks The PEAD projected a Bearish outlook for $SHOP after a Negative Under reaction following its earnings release placing the stock in drift D.
Looking to go long.Looking for a short bounce at a minimum and hoping for a longer ride. Entering long at the open if nothing is rattling the markets.
SHOP, At What Prices May This MAJOR Correction End?How far SHOP can go down? There will be a bounce ? If yes at what possible prices?
We accurately predicted the stock path several weeks ago by means of Elliott waves and called for a Big Shor t at ATH ! What is next?
Currently SHOP is in a MAJOR correction. SHOPIFY completed a primary degree wave cycle which was started at 18.48 USD on Jan 2016 at its ATH (1762.92). This wave cycle lasted for 6 years and showed 95 times growth from the very bottom to the very top.
Since then , Stock started a correction to that cycle which is primary degree wave 2 . This is really a sharp decline. As shown on the chart It is now reaching to 50 % Retracement of primary wave 1 at 890 USD. Possible labels in correcting patterns are shown on the chart. It is not know at this time which labels ( e.g 1 or A ) is a true one. We have to wait for correction waves to unfold in order to decide between them.
Can it go further down even lower than 50 % Retracement? Of course it can ! I am afraid to say that Unfortunately most possible Retracement for large degree wave 2s is 0.786 level . If this happens SHOPIFY may see unbelievable 391 USD at the end of correction. For now lets hope for higher Fibonacci levels e.g 0.618 Golden Ratio at 684 USD.
Although It is possible for the correction to end at all shown Fibonacci levels , I tried to give them a probability ( As I see) by means of thickness of arrows with narrowest to be least probable and thickest to be the most.
Good news for long term investor and holders is next long term bull run which is primary wave 3 will push the price up to above 3000 USD !
We keep it in watch and go shopping in appropriate time ! Lets follow !
Shopify (NYSE: $SHOP): Insane 77%+ Pull Back In Effect!⚡Shopify Inc., a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company's platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing. It also sells custom themes and apps, and registration of domain names; and merchant solutions, which include accepting payments, shipping and fulfillment, and securing working capital. The company was formerly known as Jaded Pixel Technologies Inc. and changed its name to Shopify Inc. in November 2011. Shopify Inc. was incorporated in 2004 and is headquartered in Ottawa, Canada.
SHOP Earnings Miss | Slowest Revenue Growth in Seven YearsIf you haven`t sold SHOP at $945:
Then you should know that Shopify said adjusted earnings for Q1 came in at 20 cents per share per share VS a profit of $2.01 per share over the same period last year and VS a consensus forecast of 77 cents per share.
Gross merchandise volumes rose 16% to $43.2 billion VS Street forecasts of a $45.4 billion.
The stock is closer to our $350-400 buy range now.
Looking forward to read your opinion about it.
SHOP broke out!Massive Trendline break on SHOP.
I am watching for a possible pullback towards 475 / 470 , rejection and another push above 488.95 (which would be my entry)
Above that levels are 512.81 / 573.85
Also important to note new channel that is possibly forming. Could offer some support.
$SHOP Short Opportunity$SHOP $537 level to watch to get shorts out of their positions and puke it up. Monthly VWAP has been acting as real resistance with some flattening occuring signaling some strong buying/covering here as volume and OBV also checks out here. Still a daily bear flag, but this is a similar fractal pattern as you will see on all timeframes from 1 minute up to daily/weekly, sometimes what looks to be easy shorting turns into a short squeeze that only serves to knock you out and flip your bias as short term as it maybe.
