Shopify Breaking Out once again
Shopify is a SaaS company providing eCommerce solutions to businesses of all sizes. They allow retailers to set up websites for fractions of what it cost to build a full blown eCommerce platform from the ground up. The company is showing explosive revenue growth due to the proliferation of online retailing and the ability to provide a better and cheaper solution to many of its customers. The stock recently went through a period of consolidation from mid September until now after Andrew Left made it a short target of his. The recent breakout was on above average volume. Watch for the stock to continue to rise, but be quick to exit if it closes below the breakout line shown on the chart. Updates to come...
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