Shop is breaking out again! may test 1107SHOP is breaking out nice again...We may test 1107 but SHOP has to get through 1093 first. Then next big speed stop is 1134..my one concern is Volume is below the 90 day average...will see
0VHA trade ideas
SHOP handleSHOP has formed a nice little handle here presenting nice R/R. Im in from a little bit lower when I found a little entry. The stop is wide, but if we break higher, I may add to the position and raise the stop. Will be stalking.
$Shop #Shop Shooting StarThis stock looks doomed as per my previous post. Stock has rallied on pathetic volume, sold off on stronger volume. Had a shooting star form today, through a key level, this stock looks in for some serious downside in the near future. Would stop at top of shooting star. I don't expect this to necessarily go down right away, better risk entries might present themselves in the next week. Not financial advice, merely a punting opinion.
SHOP In process of completing the formation of cup & Handle SHOP In process of completing the formation of cup & Handle
SHOP/Shopify RANGE TrendAs you can see the price is on its high level of the range trend, I have shown you two possible ways of the movement and we have to be prepared for both.
Classic Wyckoff #Shop $ShopNotice the textbook Wyckoff distribution, accompanied by according volume. The latest down moves come with big red volume(indicative of smart money legging it) and the recent rally is on very low green volume(poor effort). This market seems to be going up on a foundation of sand, and I expect rejection somewhere near the upper key levels(marked with lines). Look for Shakeout patterns through and back below these levels on the daily and weekly charts and plan for a reversal, maybe even another shooting star candle will appear. Ultimately this stock is probably doomed to the $500's in the next year or so. This is not financial advice, merely my punting opinion.
SHOP just cleared 618SHOP cleared the 618 rather easily today. This would be very bullish if it closed above the 618 today so I will put it on watch for Monday.
A move above the 618 increases the odds of a run to the 886 at 1111. Keep in mind price action is wonky on the low volume holidays like today.
SHOP channel returnI would wait until 20 MA catches up to the 50 and also would like to see a return to the lower channel
SHOP to test 1108 soonShopify is flying after breaking through it's symmetrical triangle the other day and also because of the 21% increase in online sales(highest ever) on Black Friday. SHOP looks to have resistance at 1058 and 1108 but with this momentum looks to break through 1058 soon. With this time of consolidation this may be the breakout moment much higher......
