SHOP trying to break 50% Fib RetracementShopify made two unsuccessful runs at the 50% Fibonacci line this past week.
Little reason to doubt it won't try to break through at least once more prior to earnings April 28.
$495 sell-off in Feb March has many doomsayers calling for a bigger sell-off and perhaps an overall revaluation of this high growth ecommerce stock.
They may be right ... but I'm looking for more run out of this recent rally. And maybe a bigger upside move.
Post earnings price movement is completely unpredictable. Study the recent ER and specifically the days immediately preceding.
I masked the pivot points, because they make the chart too crowded, but they approximate the target prices shown.
