$SHOP 30m and D linked**$SHOP** This one looks a little tricky but my heart and mind are calling it against the algo flow... Algos have $SHOP going long. I think the bull flag failed after the gap down and created bear flag with a green bar where everyone is getting caught up in. You can have a green bear flag. Then there is a head and shoulders inside the flag. I think we will rise just not yet. I have $SHOP breaking down to 690s tomorrow then I have it going further downside into the right shoulder of an inverse head and shoulders. IMO we break to 690s tomorrow then we dip into the inverse head and shoulders bounce to retest the neckline then drop into the right inverse shoulder at 581-561. Then we start to rise out of that and head for the 800-900s.
SHOP trade ideas
Shopify (SHOP) ... Get your cart(s) readyProbably not a bad purchase around the $550 area given the recent 2/3 haircut.
Traded at $585 this morning.
Lets see if we get there first.
Not investment advice. Do your own due diligence
S.
Shopify Inc - LongBullish Indications:
Higher highs after series of LHs & LLs
Trend line resistance break
Flag pattern formation
AB=CD
Historically this pattern is being repeated and showing good bullish trends (highlighted)
So based on all these parameters I think it will go long
SHOP to $800As bullish momentum continues in the market it's ready to go higher and the target is $800. Its holds strong support at this level.
SHOP puts for day tradesDouble top here on SHOP can possibly see a bounce up to $708-$710 levels before coming back down to complete the pattern.
$SHOP Key Levels, Analysis, & Targets REQUEST$SHOP Key Levels, Analysis, & Targets
So shop has been obviously selling off pretty hard since December. I would expect to see some choppy price action between 530 and 840. The MacD on the weekly doesn’t really support a huge up move from here just yet… I would expect to see a while of consolidation before any directional move...
I would keep an eye on the Daily and the Weekly macD.
The daily looks like it’s getting rejected from crossing up so I’d be looking down to the 530 level. If that level holds then I would start to add a little bit… If not, there’s not a whole lot of support until you get to around 305.
305 is actually also the covid low.
Also keep an eye on the 2019 top @ 404… this is an important level to hold.
The only places I would buy are the support levels in green… and they also become sell levels on the way up…
I hope this helps… sorry I felt a little bit rambly here…
IF you don’t have a position I would personally wait… but if you do use the levels in green to add and bring your average down.
I’m not in ANY way suggesting we get that low, but these are the key levels to stick too no matter what happens…
Also, this is in logarithmic mode...
By Request for @janatztxx
SHOP Ready for Breakout or PullbackSHOP run bullish momentum recently and has been consolidating for more than 4 trading days and volume is decreasing. If the overall market remains bullish it could move higher else we will see a little pullback before another bull run.
$SHOP sign of reversal here?we have to confirm our support , to see the first sign of reversal, which we have to pass our first resistant , then the second resistant where we see a massive confirmation to bullish continuation
SHOP (1D) - Dead Cat bounce coming ? Hi Traders, its alredy some time since my previous Bearish analysis for Fintech and high Growth companies.
Seems like we got first impulse on 1D chart. RSI is positively COnverging. What could mean a retrace after huge DIP for many stocks around (MINUS) 50 to 90% from ATH.
Yes, this will be probably quick / sharp retrace, most of the retail will get in too late just on top of Wave B. Be prepared and always use stop-loss.
Stay safe (sane) and enjoy the ride ;)
Previous idea for SHOPIFY
SHOPIFY - BULLISH SCENARIOShopify Inc. is preparing for a test of the first major resistance level located at $710.
Successful breakout will push the price to the 2nd resistance at $800.
On the other hand, if the attempt is not successful, we may witness a retest of the $520 support.
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$SHOP with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $SHOP after a Negative Under reaction following its earnings release placing the stock in drift D.
SHOP, Lots of long and short opportunities ! We keep it on watchSHOP is beautifully offering lots of long and short opportunities ! Are we prepared in advance ? Of course we are.
SHOP has started new motive rally from 1005.14 on 26 Mar 2021 and so far has completed wave (1), wave 1, 2,3 and probably wave 4 of (3) and now is probably completing wave 5 of (3) which will terminate at two proposed strong resistances which are 1641 and 1710. After completing this up going wave, there will be a short opportunity to catch wave (4) down to 1405 , 1333 and 1260 corresponding to 0.382, 0.5 and 0.618 Fibonacci levels respectively.After that, another and last up going wave (5) will start.
After making a new ATH , there will be a great short chance down to prices below 1000. Who wants to miss the chance?
Please note that, this is the most probable scenario for now. Should it need any update, it will be done later.
We are prepared in advance to make profit. We trade smartly and objectively. We see the chances but never jump into the trade blindly. Right?
SHOPAbove the yellow line, the targets are above in the chart below it. The target is below, and the most important thing is not to break the area below by closing a day candle
Shopify | Distribution Phase | SupportShopify will test the support and it is a hard support so it'll enter into the distribution phase after that.
Shopping at GAPs..!These days, your stocks create big gaps (usually down side) after earnings!
Some People think this could be a good opportunity to enter a long position.
but
Is it really good to do that?
My simple answer to this question is:
No
Why?
Look at these examples in the past few months:
FB:
DOCU:
PYPL:
F:
ZM:
PINS:
WISH:
UPST:
BABA:
I hope you are convinced by now..!
Best,
Moshkelgosha
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SHOP is a BUY at current levelsLong SHOP. Shopify has gone down from $1800 to $660. Bases on the trendline and Fibonacci it looks like a buy. What are your thoughts?
SHOP bullish setup SHOP Thursday put in huge reversal candle w the rest of the market. Above average volume on the day. RSI bullish divergence noted. This looks ripe to test breakdown candle high in the 730 area, and then if it can really get going it can fill the gap up to 840. I saw a lot of 03/18 calls come through yesterday and today too. You could look for 03/18 800/840 call debit spreads here for a play on the potential gap fill i think
