SHOP keep shopping...PM request on my thoughts about SHOP. sale continues and bearish signals to short
trade safe
SHOP trade ideas
Probable scenario for Topify patternPattern changes slightly but value keep increasing.
Tomorrow's prediction:
Predictable Opening: 488
Predictable High: 501
Predictable Low: 461
Predictable Capacity: 488
Shopify going down in flames. Sell now !!!What goes up must go down, this ticker wen up to much, they are in a long fall from their ultra stratospheric price will most probably break at least 2 support zones, sell sell fast.
SHOP.CA Almost ATHIt is very possible shop.ca will go above ATH.
Strong support around 422 which is the 20 day EMA and also the most recent high volume profile line.
SHOPIFY be carefulPrice seem a little to high for me and I expect a topping effect and possible pull back. Set your stops!
I think it still going up for another week I did explain the graphics and that makes me believe that.
TOPIFY? Shop at the top of the Long Term ChannelSHOP looks ready to roll technically - heavy resistance at the top of the long term channel, along with a 1.618 extension off the all time low. Timing wise, we have a TD8 on the weekly bar. Very potent cocktail of technicals. I would expect a retrace to the 230-260 range, at minimum.
Decoupled from Facebook -- Making me rich legally. Excited to see how this market opens....
Watch previous thoughts...
Shopify is good ecosystem (customers, customer customers, developers,...) not just a company...
Believe me such ecosystems are goldmines....
My DAD told me...
Would like to see a retest from the upper red line (to cool RSI).. good price action from there...
Would consider reentering.... sold 33% @200 earlier from a long position since @180...
Shop parabolic runDetails posted within chart.
Not massively bearish on shop but this thing needs to make some sense sooner or later
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 - 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?
SHOP - Breakout from Bull Flag? Did SHOPify break out of a bull flag?
1) Bullish open & close candle above the trend line
2) MACD bullish (though the histogram is slowing)
3) Force Indicator is bullish
4) RSI is not overbought or displaying any signs of bearish divergence
5) Parabolic SAR is bullish
6) 20 EMA is greater than 40 EMA indicating a bullish trend
7) 50 EMA is greater than 200 EMA also indicating a bullish trend
8) HOWEVER - is the price breakout overextended from the 20 EMA? Might it pull back? Is this a false breakout?
Checking in on signals from my EMA Shear indicatorLast weekend I made a video about an indicator I was developing called an EMA shear, essentially a percentage deviation of an EMA. I've since received 5 shear signals, and explore them with you in this video
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
Daily DOUBLE TOP !!!SHOP clearly hit a double top it was right to the penny at $190.00 If we can break 190 we looking for next resistance in the low $200. However, in the past when SHOP had double top there was a bearish reversal. Also Apple bearish reaction to earnings may have some negative effect on the tech sector
SHOP Setting up for a potential double bottom SHOP hit the low of 166.00 on Oct 11th when the initial dump bottomed out. Since the stock had a nice bounce reaching 190.00. Which would be a nice trade. Right now with some market weakness SHOP is back to the 166 area Closing 166.07 Friday. It may signal that the bulls are defending the 166 range. I will watching and may make a potential entry if Monday the 166 level holds. Than we can watch for SHOP to set a lower high compare to 190 before continuation to higher highs and higher lows. I will keep my eye on SPY (seeing some correlation) and if there is further market weakness SHIOP could see breaking the 166 support and hit to lower lows. If we loosing the 166 support level the next support is in the mid 140 range.
