SHOP longTicker : SHOP
Entry : 140 to 147 ishh
Stop Loss : 116 Ishh for now
Profit Range : 200 +
Holding period : 4 to 6 Months or May be 12 Months
Shopify
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.
Short opportunity: SHOPMassive run appears to be topping out. Zacks just rated them as "bear of the day" because "they just don’t make very much money." Overextended after nearly 80% run in the last 4 months. Stock is not HTB
Short around 214
Target 1: 208.87 --- 2.48%
Target 2: 198.61 --- 7.3%
Target 3: 184.15 --- 13.8%
Target 4: 170.22 --- 20.55%
$SHOP, time to sell? $SHOP SHOPIFYSo i'm running +50% on this one. Nearing a big trendline, 1.618 fib and the steam maybe over for some days/weeks.
A correction to 210 should be in play i think
Don't Buy Shopify anymore.Shopify share it is near a big AB=CD resistance so I don't suggest to buy now. Just wait until the price make a good correction and buy it or search for selling opportunity.
Buy Shopify?The Megalodon indicator speaks for itself on this chart!
The Megalodon indicator uses an artificial intelligence, combined with data from over 500 buy setups, and over 2000 indicators to produce extremely accurate buy signals on any and all asset classes! Send me a message if you would like to try it for yourself!
with earnings around the corner...can it finally break its resistance?
or will it fall back into its broadening formation?
SHOP pushing higher - close support from 20 EMASHOP is pushing higher supported by a close 20 EMA and bullish MACD, Parabolic SAR and RSI. No signs of slowing.
$SHOP seller exhaustion provided bounce. This company is growing 50% rev yoy and involved in Cannabis... it can move and looks to have bottomed.
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?
Shopify Clean Channel Potential ReversalTrade Idea: Bearish Reversal
Price has been consolidation at the edge of the channel for almost a week now, indicating that price is exhausting its bullish swing.
Trade Step-up: Short
Price rejects a breakout from the current channel trend. Look for a reversal to 140.00 & 125.00. Stop loss at 165.00.
SHOPIFYAfter looking through finances I am not a fan of Shopify in the long-term being able to support itself in terms of it's finances. For the technical traders out there it looks like price could have bounced off of the resistance level. Just something to note or keep an eye on.
Time to return Shopify NYSE:SHOP is an opportunity to go short (after Cyber Monday) once the MAs complete forming death cross on daily chart, volume is already low and RSI has formed a bearish divergence
Shopify following old trendsDrew this chart almost 2 months ago, and it's been hitting its trendlines perfectly ever since without any adjustments, which lead me to believe that this will continue on in this fashion for the foreseeable future
Leaning more towards a long position here with entries on the small dips in between these two major trendlines
SHOPIFY Giving TreeSwing pick for the week. SHOP is looking great after this mini correction. The bottom dotted line is a trend line, with two targets listed. MACD and STOCH are looking great too.
Shopify Day Trade September 19If Shopify breaks 166, I believe there's an opening between this range to make a day trade, as illustrated here. The momentum has shifted, and as seen by the shifting bottoms.
Shopify still looking down...Shopify still looking down... not much to stay. I prefer to wait for the upside to arrive... lets follow
