SHOP inside daily candleset your alerts from todays high and low on SHOP for tomorrow. if it breaks either with volume, i'll be throwing down til it hits my target to whichever side it broke.
SHOP trade ideas
SHOP: SHOPIFY...UPSIDE POTENTIALWATCH price ACTION carefully ...
ALT: RED-TRACK...25% Chance DIP down before going UP
SHOP: Double TopDouble Top
Pros:
Descending volume during formation
PPS below 50MA
RS descending and below 0
R/R ratio above 5
Cons:
250RSI above 50
200MA ascending
ATR ascending
PPS still above 200MA
If confirmed:
PT = 652.58$
Retrospective analysiscomparison of where i thought the top would be initially to where the current top seems to be. Timing off by several months
SHOP earnings 10/29 price target $1200SHOP earnings are on 10/29 pre market. I expect it to fly past it’s 52 week high of $1146.91 and hit $1200 by the afternoon. Good luck and happy trading friends...
Bearish trend, reversal close to earnings? head and shoulders pattern in the formation since july. can expect it to drop to 971, the neck level by end of week as MACD entered strong bullish trend and closed below 50 EMA today. The only saving grace is great earnings which might drive it up but no surprise if it loses 887 where it found a lot of support.
SHOP Breakout 6th testSHOP has been testing the 1110 range several times over the past several months. Looking for another test to breakout of that level back to the high of 1145. A breakdown below the moving averages would void this trade.
SHOP on watch Waiting on a pre earnings pop.
If it can build above this box it looks promising. Watching the broader market is key.
If the QQQ starts showing some weakness this could be hit quickly with profit taking.
The market rips this has a good chance of ripping.
SHOP ( DAILY) - Cup & Handle BreakoutSHOP ( DAILY)
Buy above high of 1086
Target of $300 ( height of cup)
Cup and handle formed as on 1st Sept 2020 till 12th Oct 2020
Broke handle today on 16th October 2020
RSI > 60
Taken support at 9 day EMA on 15th Oct 2020
SHOP higher towards earnings 1200$Simple moving average pattern - 2-3 weeks before earnings
Same trend each earnings.
Looks like a Shooting StarIs it reversing an uptrend? Check
Is it long relative to the preceding candles? Check
Does it have a long upper wick? Check(Not as big as I would like, but, still big enough for your mom)
Did it close lower than the previous close? Check
This is my analysis, I will enter at the 1:1 entry and if the left eye gets tagged tomorrow, I will enter there also. Stop at the top of the wick.
Good luck, this is just my analysis and is not financial advice.
SHOP LongHello Fellow Traders.
A month back I posted the falling wedge and SHOP has rallied back up and now its ready after a few rejections out of the Daily Supply Zone to push toward the 0.382 Fib level.
First level will be 1110. It will need to form a pattern above in order to push higher for a retest of all time highs and the top of the Supply zone.
I also believe it will run with $AMZN prime day it will be a nice sympathy play.
Please leave me any feedback you may have!
Twitter - @gxouls
Shopify Review1. Current resistance @ 1108
2. Aim @ 1200 within two weeks
3. V-shape reversing
4. Amazon's 'Prime Day' may pull the E-commerce sector
5. Google trying to combine Youtube with E-commerce, and their main partner is Shopify
6. Partnership with Pinterest, Walmart, Google
7. Market Value aim @ $200 billion in long-term
SHOP - waiting for the breakout? me 2 Friday session shows in point and figure charting an Ascending Triple Breakout with a Bullish Price Objective of 1189....AMEN:)
Can we c this breakout in our traditional charting?
SHOP Shopify breakout ? LongSHOP looks like it could be ready for another leg up. Smaller ascending triangle up around closing 1072... and potential downtrend break after hours. Watch the 1073 breakout area and up to 1100 as overhead resistance--1040's closest support. If rejected-- that's a play in itself but am hoping to see a breakout on this one.
