Shopify Inc.Long
SHOP opens >91, testing 94 level - will it hold or to 91 again?
SHOP closed yest. above 91 and opened today > 91 so I'm looking for a close > 91 to confirm this level as support. If we close above 91 today then def looks like it's heading to test/break through the 94 resistance level and establish that as support. Based on recent action it may reject off the 94 level today but I'm guessing we'll be crossing through that pretty soon if 91 support holds which I expect it will. Anyone buying here should sell the July 90 puts to reduce avg. or get assigned shares < 89 in less than 10 days. If I see close > 91 today closer to the 94 level, I'll look to buy calls bec. I think we're def gonna retest 100 in short order!
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