SHOP Bye ByeLooks like SHOP is breaking down from this Head and Shoulders Pattern here.
Send it down to the bottom of this channel!
SHOP trade ideas
SHOP ANALYSISHello ladies and gentlemen, according to my graphical analysis of SHOP stock, we note that since MAY 12,2022, SHOP has entered in a Trading Range Zone until today, I recommend to avoid the sell of this stock at the present time, and if even a break in the resistance level , I would recommend to keep this stock in portfolio.
Shopify: Shop until you drop 🛒Shopify is currently on the verge of dropping further South to complete the turquoise wave B in the middle of the turquoise target zone between $34.35 and $28.22 before turning the course back North to exceed the resistance line at $45.43 in order to complete the pink wave (A). Our alternative scenario implies an earlier surpassing of the $45.43-mark instead of dropping into the turquoise target zone.
SHOP - formed a baseAfter falling more than 80% from it's peak of 176.29 on 19 Nov 2021, SHOP began to range sideways since May 2022, forming a rounded base. There was an attempt break up the neckline @ 45.43 on 11 Aug 2022 but it failed after filling a prior gap that happened on 4th May.
It is now close to making another attempt at breaking up and there is a chance it could stall at the neckline (again). However, now that it is crossing above its 200 day moving average, its odds of breaking up successfully in the near future has increased.
Long the breakup with an initial stop just slightly below it's 20 or 50 day moving average.
Its momentum is strong as long as it continues to trend up along or above it's 20 day moving average.
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!
Shopify long and break outThis is an amazing company with an incredible mission, the market cap has shows a trend reversal, which given me the indication that we are getting ready for a new bull run.
Shopify Inc| Bullish Trend | 4 Hr | 25/11/22
Shop is in the bullish trend.
It is not a financial advice.
$SHOP longs beware. Shop to go back to $17-20?$SHOP just formed another lower high which you can clearly see looking at the chart from the daily timeframe. I think we're about to see one more drop from here which bottoms around $17-20.
After it reaches that range, I think that will be the setup for a longer term bounce.
short term to 45 USDweekly falling wedge, weekly RSI divergence, short term back to the starting point of the wedge, 45 USD.
This looks like a very Good ShortYou will find the answers on the Chart.
All those Buyers getting kicked by the Sellers (Wicks).
I am getting ready for a nice Short
SHOPIFY SHORTEasy monetary tightening, also bad fundamentals.
In this environment these types of stocks are going to get even more punished.
SHOP weekly below mean at despair zone of the bubble cycleBuy below $35
Sell Shares of SHOP with a Limit Order (Good 'til Canceled) at $197.87.
SHOP weekly below mean at despair zone of the bubble cycle HODL stop loss $0
SHOP short tradeShort term short trade for shopify.
Short at 36.50 initially potential pull back but higher short at 38-40 will monitor.
It's recently broken out of a descending channel due to earnings. I expect momentum to potentially continue depending as it looks like the indices want to extent a little further before pulling back.
Confluences for trade are:
historically 60-80 RSI has been pullback area for SHOP.
61 FIB is also around this area
Top of recent trading range
20-50 ema may reject again but will monitor. has traded below one another since breakdown at the top.
looking for a 5-10% move to downside back to 32-33 area.
SHOP: that's one bullish move todayWhen two S/R's, each of higher magnitude, get taken out in one day, it makes a statement. Assuming we close above 32.83 (ORANGE), the bulls are set on 38.45 (RED).
S/R's in action.
SHOP Shopify simplified Heres my current cheat sheet update for those wanting to trade Shopify and or buy for longer time horizons (investing) instead of trading.
Buy GREEN and Sell RED and ill update its level by level as the stock progresses. With each level you move up just realize that the volatility and RISK increase as well. Should you decide to begin increasing your position size in the RED zones just remember the BIGGER picture.
SHOP monthly bearish hammer retail wave 5 of downtrendSHOP monthly bearish hammer retail wave 5 of downtrend, pretty low, but wave 5 is probably coming. Stop loss above the hammer.
Shopify #shop $shop making NEW 52-week.Shopify not only made a new 52-week low today, but we are also looking at buying it for prices not seen since pre pandemic. Prices that it had ran up into without the $ printer running #Brrr.
Making this price range all that more significant.
I have a theory that possibly some of these riskier assets and tech/fintech plays end up finding their own bottoms long before the actual SPX etc. and other stocks.
I think that the more aggressive declines they dealt with earlier on has created a situation where they are ahead of the curve on finding their actual base values and building a structural floor for support ahead of the rest. Possibly kind of like the decoupling we are waiting for from Crypto in general.
Stocks like Affirm, Teldoc, Zoom, Zillow, DocuSign, Sofi might also do similar.
#Tdoc #sofi #zillow #Zoom #Docusign #afrm watch for similar theories to play out, I'll try and keep up to date on it and keep opportunities posted for others. But while researching and thinking for yourself those can be ideas to consider and watch for plays based on.
SHOP Short ideaSHOP looks like retested previous support as resistance.
My first target is 26.5 aiming for a double bottom there will take some risk off.
Stop above Wednesday high at 31.3-31.5
Shopify dancing in a range.Shopify - Intraday - We look to Sell at 39.88 (stop at 43.43)
The primary trend remains bearish.
Price action continued to range between key support & resistance (30.00 - 40.00) and we expect this to continue.
Bespoke resistance is located at 40.00.
Resistance could prove difficult to breakdown.
We look for a temporary move higher.
Our profit targets will be 30.61 and 28.61
Resistance: 33.00 / 35.00 / 40.00
Support: 30.00 / 28.00 / 26.38
Daily chart for context
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SHOP - Will see $10 one daySome say Shopify is the next Amazon. But even in the early days, Amazon stock crashed 90%. So will Shopify down to the .618 fib, 1.618 fib, and high volume node.
SHOPIFY - Observation Still an amazing chart to eyeball, Shopify, a poster child of the Covid era.
One to frame and hang on the wall for future reference so as not to forget what stocks can do.
SHOP Options StrategyCanadian e-commerce platform Shopify Inc (SHOP) offers 1.7 million online retailers in 175 countries (as of 2021) a range of services including payment, marketing, shipping and customer engagement. After online shopping boomed during the pandemic, it crashed ~80%, laid off 10% of its workers, and acquired Deliverr (product shipping) and Dovetail (influencer marketing). Shopify has also announced expansion into brick-and-mortar with its new product, the POS Go -- a device that allows retailers to provide wireless checkout anywhere in the store and analyzes sales, inventory and other data for merchants. Market cap $35B.
If SHOP has hit its low and is on its way up, here's an options strategy that maintains growth potential of up to 18% (26% annualized) but also allow some downside protection as SHOP is given room to fall 47% before breaking even.
Capital required: $2969.64
Hedged option legs:
Buy 1 $25 call
Sell 1 $30 call
Sell 2 $15 puts
Exp 6/16/23
Win probability: HIGH
