SHOP about to test trendline and look for years highHi traders,
for SHOP i see a test of the trendline around $39 which is also the .5 fib level from the uptrend started begin of 2023. Afterwards, we should hold the trendline and see the 2023 highs again.
This is no financial advice.
SHOP trade ideas
Shopify to 40$Channel trade.
Has a gap at 40$ that will be close., target is channel support..
Added white horizontal line to show the extreme support in that area. If shops breaks below that it's going back to the 20's..
Selling pressure was enormous , definitely see follow up coming..
200ema is at 46.25, that would be the stop loss of my choice
$SHOP Technical Indicators for Short-Term Trading Strategies $BA @everyone
MACD Divergence
Stock price and moving average convergence divergence (MACD) indicator are showing a bearish divergence
i.e price is making new highs while RSI is making new lows. This is generally a reversal signal.
Horizontal Resistance
Daily price is touching a horizontal resistance level. Price can hit the resistance level and start going down,
which would be a bearish signal. It can also break out of it to form a breakout, which would be bullish.
Yearly High Close
Price is close to the yearly highs.
Inside Day
When today's high and low are both within the yesterday candle's high and low.
Potential Breakout
Price is close to breaking out from a resistance level.
For Chart Like Mine Link In Bio
$SHOP: Interesting potential here...The daily trend is turning up, which could end up leading to a larger timeframe trend forming in Shopify over time. Low risk entry here, see levels for entry, stop and take profit targets.
Best of luck!
Cheers,
Ivan Labrie.
$SHOP call 👀📈I've used a few tools and indicators to predict Shopify share price over the next couple weeks
Not investment advice
I believe SHOP is massively undervalued, with some exciting projects coming soon. We saw an ATH @ around $172 in Nov 2021, and since then the price has dropped around by over 4x less, to about $40. This is around $15 above the ATL.
However, £SHOP is also vulnerable to external factors, and as we saw in the news, Russia has apparently attacked Poland, which could be massive news for the market - a lot of investors will get spooked and sell shares. Shopify relies on online purchases, so there is both an advantage and a disadvantage for them.
Another factor I've spotted which I believe is great for the long term potential of $SHOP is the growth in ecommerce sales and the number of people starting ecommerce businesses. The recent downward economy has forced a lot of businesses to go online, growing the customer base and number of businesses that operate online. As we already know, ecommerce is booming already, but Statista predicts that global ecommerce sales will rise massively to over $8.1TRILLION! In 2021, this figure was just over $5.1trillion.
ABC BullishStop somewhere under C or under 32.34.
Target is D.
There is a resistance zone at B.
If price manages to surpass this R, possible further targets are 49.20, 53.75, and 59 to 67.
Short is around 3%.
Earnings 2-13 BMO.
No recommendation
SHOP Base breakout potentialObvious inverse H&S in play. Like it long above the box with targets at the fib levels above. Risk would be a move back below the 236/50 fibs. Needs broad market support and must happen before earnings.
SHOP Inverse H&S Pattern and TargetInverse H&S pattern developed here. The price might shoot up another 48% from here to 72.85 level. The same pattern can be observed on several other stocks.
Of course if price falls below 35.50, this idea will be invalidated. However, looking at the structure of the overall market, it seems likely that the price will keep rising higher in the coming days at least and this target can be achieved easily.
A clear break out can also be seen from the neck level.
SHOP Long as inverse H&S pattern and market structure in favorInverse H&S pattern developed here. The price might shoot up another 48% from here to 72.85 level. The same pattern can be observed on several other stocks.
Of course if price falls below 35.50, this idea will be invalidated. However, looking at the structure of the overall market, it seems likely that the price will keep rising higher in the coming days at least and this target can be achieved easily.
A clear break out can also be seen from the neck level.
SHOP - Inverse H&SSHOP showing strength on weekly with huge base forming with yet to breakout opportunity building.
Volumes on weekly also shows some strong momentum continuing to the upside.
Target 42-45 for now. Based on the broad market, this has opportunity to move even further
Shopify ,,, trending Uptrend
In my strategy, it's started net trend and it could be a good opportunity for entry to a long-term trading position. As always putting a sure SL is essential for protecting our assets.
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.
SHOP Bottom in - Buy signalSHOP is a buy at this level.
1. Inverse H&S breaking ... need weekly close above 45.5
2. ema 12 and 26 about to cross.
Once both these are confirmed its a buy
Nice head and shouldersDespite some pressure by ma50, BB and RSI, this pattern may play out.
Trade safe.
Shopify long ideasShopify (SHOP) potential long play
The e-commerce company rose nearly 5% after being upgraded to buy from hold by Deutsche Bank, which said brands are growing increasingly interested in Shopify.
Price action via the weekly chart view has formed an inverse head and shoulders pattern, testing the neckline area $43-44. A break above could open the door for a fast move towards $55 and then the target area of $66.
$SHOP Inverse head and shouldersReal nice inverse head and shoulders here on Shop with a higher right shoulder. Rising momentum and volatility.
SHOP - Ready to trend soon?SHOP had been building a rounding base for the past 9 months with 2 (failed) attempts to break it's neckline @ 45.30. The stock finally had a Golden Cross a few days ago on 18 Jan, further solidifying that it is bottoming out.
Even after golden cross has occurred, some stocks can continue to remain volatile within a range for another 2 or even 3 months. Hence a better time to enter long is to wait for a break above a significant neckline (in this case 45.30).
The aggressive trader would enter as the stock starts to break above the neckline (entry 1) although there is a chance this could be yet another false break (but with diminishing odds as the moving averages are now aligning to the upside).
A more conservative trader could wait for further upside momentum by waiting for the 1st pullback above the neckline, and then enter only when the stock starts to break above the last pivot high (entry 2).
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
ShopSuper exciting chart here. Personally I love these setups! This has a monster channel, almost lookin like an inverse head and shoulders within this choppy range. We had 2 daily wicks to 45.30. We had some daily candles that close at 41.77 and 43.25.
This gives a big range of chop so scalping an entry could be a little less clear. Ultimately piping above that 45.30 would be the safest entry upon a rip up we could play the push and then look for a pull back backtest of this range.
If I was going to try to scalp the entry anticipating a breakout of this range, I think finding support for a day or 2 on top of 41.30 could be a play, as well as a potential pull back and hold of 40-39.60 as a dip pull back level
This could have room to test 51.50 in coming month as long as markets contiue on the bullish path we are paving
Another come backPrice appears to be forming an inverse HS. I will take a few weeks more to complete the pattern, but you can start with a small position and add while the pattern is shaping out.
Shopify: Shopping Spree 🛍️The Shopify stock is currently wandering off to a shopping spree in the South and could get dangerously close to the alternative scenario, if it crosses the support line at $32.35. This would implicate further downward pulses until the turquoise wave alt. B hits its low. Primarily, we expect the course to get back in the saddle to exceed the resistance line at $45.43, which should be followed by the completion of the pink wave (A).
weeklyprobably a long term idea but over 46 has a lot of run way in the future. potential inverse head and shoulder set up. bottoming process.
Old shop analysis still practicalI did this way back in late May/early June for option plays on Shopify. It's still relevant.
