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SHOP

SHOP Earnings Tomorrow!With a previous 7.40% intraday surge, after the previous earnings announcement and an earnings bet of +0.13 Cent per share compared to the Wall Street consensus, we can expect SHOP to similarly behave this time around and are slightly bullish, as the company continues to grow and is on an overall uptrend. However we position ourselves neutral, as the company's stock is up by 129.69% (YTD) this year already. We expect the stock so bounce anywhere between from 293 to 342. The hype remains, growth prospects are there, but valuation is unreasonably rich at these levels.
NYSE:SHOP
by movingindicators
2
$SHOP Shopify Topping Out - Correction Upcoming$SHOP Shopify Topping Out - Correction Upcoming - Rising wedge pattern on daily - Bearish - Volume & MFI divergence vs Price entire month of May - Bearish - Price/Sales Ratio now over 25x (all time high for SHOP) vs most other top growth SaaS companies in mid-teens - Bearish See chart for near and medium term targets. For a possible options trade , I'm looking at buying the June 21st $260/$240 vertical put spread. Currently costing about $300 per contract with total possible profit of $1,700 or more than a 5x return. Definitely high risk as this stock has been propped up for several months now with no major draw downs, but I think it might be time. Note: Informational, not investment advice.
NYSE:SHOPShort
by Triple_Barrel_Capital
Irrational Exuberance: How do we short this beast?We're way beyond reasonable valuation at this point. What we have here is a bubble that's gotten out of hand. See $TLRY's momentous run up last year, what goes up must come down. But how and when? $SHOP is a pure momentum stock that people keep buying out of FOMO, it only just over 8 Million shares, which means it will move on you...FAST. THIS IS NOT FOR THE FAINT OF HEART, only use what you're prepared to lose. Solution #1 : Purchase a Bear Put Spread. Buy 280, sell 250...or whatever width you desire. MAKE SURE this is far dated, July or August at least. What this will do is let you make money IF SHOP CONTINUES TO RISE, you're short put will lose theta and you can collect premium by buying it back cheaper. Once you're short put value has gone to nothing....the inevitable crash should plow right through your now naked long put. Giving you a nice payout. Cannot stress the importance of buying enough time here. Solution #2 : Wait until its next consolidation and keep your eye on the pivot points (like the ones I highlighted). The reversals that have been happening have ignited massive short squeezes sending this higher every time. Usually the stock will break support intraday and chill there for a bit until it decides it's not having it and reverses. This is the stock telling you "I'm still not ready to collapse yet". Wait for a CONFIRMED move to the downside. Allow it to close below the pivot and watch for follow-through the next day. The way premiums are priced on this right now I would say Spreads are the way to go, but this is up to you. Good luck out there.
NYSE:SHOPShort
by chrisieg66
SHOP - Breakout from Bull Flag?Did SHOPify breakout of a bull flag? 1) Bullish open and close candle above the trend line. 2) MACD bullish (although histogram is slowing) 3) Force Indicator is bullish 4) RSI is not overbought or showing any signs of bearish divergence. 5) Parabolic SAR is bullish 6) 20 EMA is above the 40 EMA indicating a bullish trend 7) 50 EMA is above the 200 EMA also supporting a bullish trend 8) However, is the price to far overextended from the 20 EMA? Might it pull back? Is this a false breakout?
TSX:SHOPLong
by SenaruScarab