SHOP trade ideas
$SHOP Shopify - Buy the Dip$SHOP Shopify - Buy the Dip
Down almost 4% today on a low volume Friday. Perfect opportunity to buy the dip. The e-com trend isn't going anywhere.
Target: $1,300 by early Sept
SHOP - 5th WaveShopify is a powerhouse and a really solid long term investment. Wix is a strong competitor but I honestly think Shopify is the better long term play due to it's easy to use ecommerce interface.
Up nearly 235% from it's March lows, I think it will actually move higher to around $1300 for a 5th and final wave before a major correction back down to its historic lower trend line. There has been RSI divergence since 2017, which doesn't mean it can't continue to diverge for some time but that will ultimately lead to a pullback. Momentum still looks strong on the MACD but volume looks like it is waning with a lot of selling pressure. A fed bill passed next week and I think we will see this final wave.
As always, I am not a financial advisor and this is not financial advise. Do your own research and formulate your own theories. Good Luck!
SHOP:NYSE - SHOPIFY - Will it push through resistance?19% SuperTrail trailing sell, stop / support at $900. Stuck at a resistance area while trying to make new highs, but post earnings so could be a buy.
$SHOP Bearish Short Term, Bull Long Term 2022 and beyondAs you can see $SHOP is up to all time high it’s has done the accumulation, distribution, consolidation cycle twice, question is will there be a third cycle, I believe there will be some pullback around 800 - 900 last know support, then cycle may repeat, depending how the covid situation persists. The quicker the economy recovery the quicker FAANG stocks will drop including $SHOP.
SHOP trends depending on earningsStrong company with increasing subscriptions and revenue for several consecutive quarters. Many new businesses entering the e-commerce sector are going to Shopify as their online platform. Can dip as low as $700 range if earnings disappoint. If earnings are good it should exceed $1,100.
Shopify Repeating a Familiar Pattern Into EarningsRange chart. Fractals pretty repetitive here. A break in the pattern would result in bearish action. Otherwise, it's bullish for another move higher.
shopnotes on chart for personal review. Fundamentals are basically useless but attempting to review and follow any norms
Good growth, great possible entry zone approarchingStrong E-commerce site like BABA and AMZN. It seems to have set up for a head and shoulders pattern, my target buy-in range is 700.
Short for near profit but long for the future.
