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SHOPIFY INC CEDEAR EACH 107 REPR 1 COMSS

SHOPIFY INC CEDEAR EACH 107 REPR 1 COM

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SHOP trade ideas

ABC Correction?I can count a 5 wave impulse (subjective) and could see a potential ABC correction down to the $16 - $23 level. As someone who makes plenty of purchases from small retailers on the SHOP infrastructure, I'm ultimately long on this stock. I hope this stock doesn't see a year or more of sliding price action. That level could easily be hit, then recover much sooner than this chart predicts. TLDR; I'm charting a potential reversal level, not the time frame.
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by b6d1016fdeb149be865b678a8ac935
Shopify: Crazy Chart, Big LevelHave you ever seen a level as outstanding as this one? Yes, but this one's great too. But will we ever get there though? Maybe with some tariffs action we do. Outstanding level = strong level We do have breakdown PA at the top (SFP) but the lack of structure in the downmove (2022) makes this less relevant as the lack of structure meant that price could easily come back up and not completely destroy the chart resulting in a downtrend. This is clearly not an obvious uptrend, but I think the $23.63 level is that strong (because it stands out that much) that it makes up for it. But only if price keeps falling down to it like it's doing now: this way you don't get structure in the downmove (like in 2022), thus no resistance above the level after price would have hit it, increasing the chance of price holding and thereafter pushing up away from the level (likely in big fashion given the way price behaved before + this lack of structure).
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by EyyJasper
1
Shopify - Reasons to add to my portfolio Nothing better than a bear market if you wanna make life changing profit. I have been following Shopify since May 2021. Clarified where I will begin to buy. 40CAD and 23CAD were 2 of them. Went long at 40 and will add at 23 if it keeps dropping. 40 was 2019 support 23 is 2018 resistance My target is between 100-150 I am a long term investor and has alot of patience. Therefore, short time moves dont interest me. In time, I created my own ETF by adding stocks which came to my point of interest and very happy with it. Some are in profit some are not for now. My focus is total profit and will always be. None of my comments are investment advise and are for my personal journal.
TLong
by ladedimone
1
Way oversold, not too late to enter! TSX:SHOP is looking excellent for further upside. As inflation continues to drop, expectations for rising rates will also continue to drop. This is bullish for high growth stocks like SHOP. We are now above a key level (200 Day SMA), which often is the beginning of a technical bull market. Although I started my position a month ago, this stock is still tremendously oversold on the longer term charts and still has a lot of long-term potential for growth. I believe it's one of the most unfairly treated stocks this year by far on the TSX. The risk/reward looks favourable over the coming weeks and months, and the downside risk is now much lower than when inflation was continuing to climb every month.
TLong
by Jabby