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Shopify

SHOP below trend line and 10/50 SMAShopify is looking pretty bearish to me. Notice, it is trading below its big up trend line, below its 10 SMA (orange line), below its 50 SMA (blue line), and looks to be heading for the 100 SMA (purple line) as well as the next major support area (dashed line). I am going to stay neutral for the time being, but will keep a close eye on it. If SHOP can't bounce off the 100 SMA and/or that big support area, then I will enter a short position. After the huge run-up SHOP had, a big correction would not be surprising at all.
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by Bankuur
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SHOP - Daily - Inside candlestick reversalIf you follow the stock market, and the big names in it, you will know that Shopify has been on a rampage. But, SHOP has recently pulled back into a zone that I think counts as solid support. In doing this it made an inside candlestick pattern yesterday. Inside patterns are tricky ... they can be continuation or reversals. However, this particular inside candlestick is right at good support (what I think is good support anyways), and it had good volume. This tells me that this particular inside pattern is leaning to to the reversal side for SHOP. I will keep my eyes open and look for a close above the big candle. If it does that, I may enter long and ride it up to its all-time high.
SLong
by Bankuur
How High Is High Enough??SHOP Has just been on a tear, my goodness. I had this move marked out when it was flagging, had my buy marked at 125. Got distracted elsewhere, missed the buy, and now have just been absolutely kicking myself over this. What a run. My best estimate for a target sits around 428. May buy a put option at that point if it does in fact reach it, but I obviously don't wanna be short for very long in this name. If you have been in, congrats on the move. May wanna consider realizing some gains in the next 20 bucks or so of price action. Happy hunting and GLTA!!
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by UnknownUnicorn1314136
Shopify Looks Toppish (Example of Counter Market Stock)While people are fearing about a potential recession and trade war bla bla bla, Shopify just don't care and actually doubled in just few months. Shopify is an example of stock that doesn't care about the overall general market, because its growth story is much more important, and its own Fundamental have much bigger influence towards its stock price. We have seen this kind of stock over and over again, while majority of people are obsessed with other stuffs that sometimes may not directly impact the fundamentals of a company. The best time to buy is after a breakout and confirmation of breakout, for Shopify, that is around the 175 USD mark. At this point, Shopify looks like it is almost reach a potential top before consolidating or a major correction. How to play the game of the big money? Think like them, act like them. As long as you behaves and thinks like 95% of the retails out there, you are going nowhere. Note here, the theme, the industry, the kind of stocks that are doing this kind of crazy move. Look at the market leader, i.e, Microsoft and Salesforce, how are they doing? Software is and one of the best performing industry for the past few months. Take note of that, your next Shopify will suddenly come out of the wood and do the exact same thing. And if you don't have the tools for that, you will never get that opportunity. I am bullish on innovation and on growth, that's how I have been consistently making money in the market. What tools and screener that's I am using? That is beyond trading view and I kept only within myself.
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by UnknownUnicorn735418