Long
Shopify has long term potential
Shopify has immensely strong fundamentals, as their global e-commerce eco-system continues to grow
shopify.com/press/releases/shopify-announces-fourth-quarter-and-full-year-2017-financial-results
Looking at the chart I see a long term bullish trend-line that we're now heading back down towards. Interestingly the 200-DMA has been tracking this closely, with the price testing the level last December and again a couple of times in April.
I intend to build a long-term long position with entries between the 100 & 200 DMAs, ideally close to the trend-line/200 DMA, although i'll monitor classic candle patters and chart signals for signs of a bottom - I'll settle with a smaller position if we head higher before reaching my entry.
Ideal entry: between 128 - 138
Stop Loss: below September monthly high of 123.94
Target: 190+
Risk:Reward 3.7+
shopify.com/press/releases/shopify-announces-fourth-quarter-and-full-year-2017-financial-results
Looking at the chart I see a long term bullish trend-line that we're now heading back down towards. Interestingly the 200-DMA has been tracking this closely, with the price testing the level last December and again a couple of times in April.
I intend to build a long-term long position with entries between the 100 & 200 DMAs, ideally close to the trend-line/200 DMA, although i'll monitor classic candle patters and chart signals for signs of a bottom - I'll settle with a smaller position if we head higher before reaching my entry.
Ideal entry: between 128 - 138
Stop Loss: below September monthly high of 123.94
Target: 190+
Risk:Reward 3.7+
Trade active
I bought a partial position at 150.... add on dips!Note
A rocky road, but target has been reached. Would recommend further buying along the long term trend-line supportTrade closed: target reached
As above, I still see great long term potential
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.