SHOP curling back up to continue filling the gapSHOP is about to break the AVWAP from it's recent high in the gap. I feel it will have a little bump at 69 but eventually fills the gap at $75.
SHOPD trade ideas
Downtrend in Shopify?Shopify has struggled since late 2021 and now some traders may expect another push to the downside.
The first pattern on today’s chart is the pair of high-volume bearish gaps after quarterly results on February 13 and May 8. Both drops came despite better-than-expected earnings, which may suggest the e-commerce stock is a distribution phase.
Second, SHOP rebounded from the last selloff but stalled at the preceding low around $68. (Also notice how the first drop occurred at a key low from late 2020.)
Have old support zones become new resistance areas?
Third, prices are reversing at the falling 50-day simple moving average (SMA).
Fourth, the 50-day SMA had a “death cross” below the 200-day SMA earlier this month. That may reflect a bearish longer-term trend.
Stochastics are additionally starting to dip from an overbought condition.
Finally, TradeStation data shows that SHOP is a highly active underlier in the options market, averaging about 110,000 contracts per day in the last month. Traders looking for downside in the next few weeks may consider a strategy such as the July 60-July 55 put spread. It’s quoted for less than $0.75 and could potentially widen to $5 if SHOP falls slightly below its recent low.
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SHOP all set to 75 +All the indicators are firing positive for $ SHOP
Expect a quick rise in the next few days.
Bull Bear Power looking very positive..
GAP FILL! SHOP otw to 67
Shop has been forming a rounded base after a major correction and I believe we will see an upward trend and flight through the Gap Fill zone and go back to 67-75 price range
Above 62.31 we should see the Gap begin filling
on the 15minute the IHNS is ready to pop and above it is a gap
SHOP's bull flag played out and I now see an inverted head and shoulders before we go to 67 from 61.83
I plan to buy many more calls with an expire at most of14dte and a PT of 65-67
NASDAQ:PYPL looks good with the sector; will post that chart before the weekend
Will update when I have more; comment any questions or chart requests
SHOP - Shopify - Short Set UpLooks like a short term reversal on 1H TF. will trigger my entry on break of 63.48
Entry 63.48
Stoploss 64.70
tp-1 62.27
tp-2 61.05
#Trading #Technical #Crypto #Stocks #commodities
SHOP - might not fill this gapHOP looks like its fallen off of peoples radar. Daily BB extended below the weekly with nice follow through. Positive improvement on the KST and Chaikin oscillator.
The blue AVWAP overhead is anchored to the July 2023 high and aligns to the 1.272 extension. It likely sees selling there, which would frustrate buyers that are looking for it to fill the 4/16 gap.
Time to shop for some SHOPI sent this out to our chat room a couple of months ago and it has been following the forecast nicely. If things stay on track, we should start seeing some excitement soon.
SHOP BUYThe price is moving from the resistance zone that was around $90. The market has driven the price down to the upward trendline. This trendline is supported by the weekly demand zone, which is very close to the monthly buy zone. Although there is a risk on the daily chart of closing the gap down to $48.80, I believe this is a good opportunity to take a buy position.
SHOP “Shopify”……”Potential Reversal”SHOP “Shopify” is retesting a trend line that goes back to October 2022……tested the same trendline in October 2023…..we’re currently bouncing from this trend line as of last week and headed towards a recent gap to the downside from Q1 earnings. After a nice bullish candle last week, I believe we’ll see more bullish momentum soon once buyers step in…..let’s see how this one plays out
SHOP Long Term Swing Idea Into August or Jan 2025Break above this box and you wont ever have to look back here.
$SHOP Towards $70What do we see here?
- NYSE:SHOP ended the day with a bullish outside day.
- Previous HOD for May 31 is $59.23, can serve as resistance.
- Previous weekly high is $60.11 and can also serve as resistance.
- GAP to be filled to the upside $64.20 - $75.30.
- RSI is at 39.24 and moving upwards slowly.
- MACD (blue line) is above the signal (orange line), indicates continued bullish movement
- 5-month monthly fibonacci patterns highlights potential resistance on 0.618 ($63.10) and 0.5 ($68.54) (which is the 0.618 of a bullish fib pattern on a larger time block
- GAP also potentially to be filled to the downside $55.51 - $48.86)
SHOP Potential Trade IdeaVandy Notes: Break of 58.70/ Break and hold above 60
Raki Notes: Enter above 58.50 break with SL below 57
SHOP - A potential setup for a swing tradeRemain vigilant for daily reversal candles occurring near the support area. In the event of a daily closing breach of the support levels (red lines), there is a possibility of further downward movement, emphasizing the importance of implementing risk management strategies.
SHOP drop at a serious support: eyeing 56-57 for possible bottomSHOP had a big drop with last earnings.
It has fallen into a serious support zone.
This would be a good spot for bulls to hold.
$ 56.12 - 57.16 is the immediate support.
$ 49.20 - 50.88 is next support and stronger.
$ 63.44 - 63.84 is the first resistance above.
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SHOP LONGWEEKLY GOLDEN POCKET
Fib tool used to identify bounce in price and currently lines up well for longterm LONGS
Shopify looking to go long!!!shopify completes CD swing, now at 78.6% retracement looking to go long, should recover about 100% over the next year or 2
Shopify: Turning Point 🔄Shopify stock has now dipped into our magenta Target Zone (coordinates: $62.74 - $52.88). Here we expect the low of the magenta wave (b) and a reversal. The price should now rise again well above the resistance at $67.60.
SHOP range bound with potential for Bullish continuationHi guys so this is a Macro analysis on Shopify (SHOP). Recent weeks of price action have got my eyes on SHOP.
Lets jump right in. This analysis is done on the 1 week timeframe thus supporting a Macro lens look on whats happening.
As you can see, ive highlighted key area with an Orange rectangle.
Below it, you can see candles attempting to get into it and getting rejected few times.
However since Nov 2023 till present time, we've been inside the Orange rectangle.
Recently, we've made it to the bottom of the Rectangle to test it as SUPPORT.
We had about 3 weeks of Testing. With this weeks Candle printing a potential Large lower wicked Hammer candle.
This can be an indication of a attempt to reverse our downtrend from $90ish.
At the same time, we have Support confluence of this Ascending Channel.
And our current candle attempting to break Resistance trendline that formed since Feb and local top of $90.
Remember though a breakout above Resistance trendline is not enough. We would need confirmation of it acting as support.
On top of that, at the posting of this idea. Our weekly candle has yet to close. Maintaining price Above 73.50 would be key.
And to keep in mind that there is also Resistance Above $74.00
If things progress look to where the Upper trendline of Ascending Channel and the Upper border of Rectangle meet to potential target.
Also keep an eye for updates on further signs/ clues to take into consideration to help us make informed decisions!
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Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again.
Stay tuned for more updates on SHOP in the near future.
If you have any questions, do reach out. Thank you again.
DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. Do not use my ideas for the basis of your trading strategy, make sure to work out your own strategy and when trading always spend majority of your time on risk management strategy.
SHOP broke support 2 levels,does it got enough support to bounceSHOP broke support 2 levels,does it got enough support to bounce?
Looks like around 55 is inevitable?
SHOP approaching bottomAfter ugly sell off. SHOP is near to trendline support or gap resistance
55-57
let see
Shop analysing for next 190 daysI think that shop sec will go first to 100+ and then it will correct
Now time is good time for an easy profit
This not an advise to buy its just an idea presented for lovely community
