SHOP - Good Bullish MomentumI'm looking for SHOP to potentially challenge recent highs around
Buying Nov19 155/160 call spread, with a little help selling otm Nov05 put and call spreads. Total cost .65
Trade has a theta of .52, so keeping options open for next week.
SHOP trade ideas
$SHOP set up for ATH...Post earnings, solid buying into last week and to start this week. All is set for a move to ATHs over the next two weeks. I'm in a same week $1,550/$1,600, could find a $1,650/$1,700 a few weeks out as an option.
Trade Setup: Shopify SHOP emerging from it's value area.
If it can hold $1510, then it has potential to $1566 to $1588.
Current: $1518
Stop: $1497
SHOP getting ready for takeoff 🚀Shop daily trading in this range. Once we break out to the upside we can really fly if we break the All Time High. I would wait for the ripster clouds to also turn green again first.
$SHOP earnings behind, sitting at the VWAP...Very interesting position here, with earnings behind us and a positive reaction after earnings, we now find ourselves at the VWAP. If big money is still buying what SHOP is selling, then we would look to make a nice move next week. Call spread a few weeks out look interesting. Will keep watching.
SHOP expanding diagonalSHOP has a bearish scenario unless it breaks above the line, simple.
GOOD LUCK!
SHOP earnings releaseI consider $SHOP a good investment in the $1200's, and a compelling investment in the $1100s.
But Shopify is not necessarily a great short-term trade, today and next week. Shopify likely to be oversold, near-term.
I own shares long, and will selectively add to these holdings. I also own one in the money December call that will most likely be out of the money on today's open. Not sure what I'm going to do with it.
Amazing to note the recent selling pressure in advance of the ER today.
$SHOP levels I'm going to buy on dip.These are the levels I'm going to buy $SHOP on the dip. Missed the earnings, supply chain issues, etc. Love the company.
Shopify Analysis 27.10.2021Hello Traders,
welcome to this free and educational analysis.
I am going to explain where I think this asset is going to go over the next few days and weeks and where I would look for trading opportunities.
If you have any questions or suggestions which asset I should analyse tomorrow, please leave a comment below.
If you enjoyed this analysis, I would definitely appreciate it, if you smash that like button.
Thank you for watching and I will see you tomorrow!
$SHOP rejected again at resistance level, heading towards 1150$SHOP got rejected again at resistance level from long time July 21, can see 1200 / 1150 unless it breaks above 1500 - maybe earnings does the trick but until then we are heading down only on this.
Shopify - $SHOP - patience warranted hereMight have a chance to add to your position in the low 1300's high (or even high 1200's) shortly after earnings.
At least that range would present a more compelling buy opportunity than $1400.
But short-term movements are mostly unpredictable.
Don't like seeing recent weakness in SHOP at the same time NDX is have a bit of a rally.
$shop wave count - ATH's coming after upside breakoutShopify is consolidating tightly in a symmetric triangle w/ apex @ ~ 12/16. Based on my wave count it appears that it is looking to put in its final primary impulse to ATH's which will complete the cycle wave V of super cycle wave V. Meaning that after this last hurrah we likely will be seeing a very substantial decline (potential line up with bear market? I think so based on my cyclical Index charts).
Right now it is bound tight with the 50 DMA and ATH AVWAP resistance above, and the 200 DMA and cycle wave II Pivot AVWAP support below. It just put together a reversal candle off of the 50% retracement, is that bottom for wave 2? Maybe. It is also possible that it has a slight earnings run up and then pulls back following, who knows.
Either way - I think this will end with a breakout to the upside and we will first see 1585 - 1650 - then 1725 - and finally somewhere between 1800-2K as ATH before we hit real turbulence.
How to trade this guy: Earnings are a total crap shoot and IV crush can completely ruin a position, so it is not worth the gamble IMO. Everytime I take the chance and run one I usually have it blow up in my face. For this guy, given the consolidation and triangle, it is best to alert the triangle break out and take a trade after the signal is given. Once outside of the triangle your stop is a breakout backtest failure (i.e. back underneath the breakout level). The first PT upon breakout is 1585 (and that run up should be a freeby with little resistance between 1500-1585.
$SHOP holding so far...Earnings on the 28th, another play I like on anticipation of earnings. Holding a $1,600/$1,700 call spread for 11/5 from last week...
$SHOP earnings next week...Seems like a reasonable opportunity for a 2 week out call spread with earnings anticipation, $1,600/$1,700 call spread grabbed at $4.75, now $4.50 so could get cheaper...risky, but SHOP is a market leader and the thesis is today is just a full market flush out before hitting ATH's again. If the thesis is wrong, that's fine, I'll set a stop at 50%.
Shop TAShop formed a h&s and broke down. Soon after it found support it retested the neck line and it rejected. After the rejection it found support again and bounced off it, it then tested the neck line another time and broke through.
SHOP - Resumption lowerSHOP had a pretty ugly candle Friday, and the chart looks sick (bad sick), so I would project it resumes lower into earnings. Maybe even due to increasing costs, earnings won't be too great as well.
Falling Wedge- BullishShopify looking really nice here, certainly worth noting the 200 day EMA acting as strong support for SHOP as it has bounced off it three times since March, additionally Shopify does have earnings coming up on 10/28'. However, will be looking for a breakout from this falling wedge (Broader Market Conditions Permitting)- Just some support and resistance levels and some RSI based supply and demand zones to keep an eye on as well- bullish
- Big falling wedge forming on the daily timeframe
- EMA's starting to curl upwards
- Hammer right off the 100-day EMA
- Sitting on its 20-day SMA (Not Pictured)
- Bollinger bands squeezing on shorter timeframes
PT1- $1,435.50
PT2- $1,443.81
PT3- $1,451.70 + Breakout
A quick analysis of SHOP, what can we see? Today we will take a quick look at the SHOP chart.
What we can see here is:
a) Ascending Channel, the price was rejected from the lower trendline.
b) ABC corrective pattern (apparently finished).
c) Support/Resistance zone (we want to see the price above that level, to think in bullish opportunities).
Based on all those items, if the price reaches our green horizontal line, we will consider that to activate the bullish view towards the targets we have defined using fibo extensions.
Our invalidation level will be below "C" either the analysis is executed or not.
Thanks for reading!
