shop supply zone rejectionshop looking to come back to major higher time frame demand after rejection of supply
SHOP trade ideas
Shopify short 200$ in 14 daysthis is not a call to buy, sell or trade its just for wasting your time ... wait for it
SHOP Sideways ideaInteresting chart.
Price for a while couldnt break 411.50 support (left) and after it broke, it tried to reclaim it many times and trade above it, but the level proved to be a strong resistance and pivot to the upside.
Supports: 347.16 - below that can see 325.15 and below 308.23
Only interested in the upside if we break 411.50
SHOP Emerges from Bear Market as New LeaderSHOP Emerges from Bear Market as New Leader
Triple-Digit Earnings Surprises
High Relative Strength in a Bear Market
Big Gaps immediately after Market Follow Through Day
Sideways action on Low Volume
SHOPing for holders - until $150WHY I'M STILL BEARISH
Shopify still trading at 85x earnings - hugely overvalued
Next support 50% away at $150
Stick model (white dotted lines) yet to be crossed to the upside, with air below
Approaching recent lows from May 13 of $306, lower highs not yet in
RSI still showing weakness in red bear-zone and further sell side possible going into June
Moving average still shows very much in bear market, and a lot of time must pass before it can reset and reclaim to be in a bull market
Insufficient history of corrections and therefore bottom of channel unlikely to provide support
REASONS TO BE BULLISH
Just had a 10% drawdown in a day and huge sales already
Decent uplift in volume of late, although still expecting more in a capitulation event
At bottom of exponential channel, typically in the buy-zone in market corrections
Eventually a countermove will come, but that may not be forthcoming for another month or two
SUMMARY
Overall I would steer clear from this shipwreck. I had been expecting a bounce of late for Shopify but until this stock breaks the white dotted stick-model and betters it's recent volume, it's best to remain on the sidelines. I would say that shorting from here is high-risk, low-reward. There isn't enough history, with SHOP being listed well clear of the GFC to rely-upon it holding the purple channel. That said, still expecting a further 50% capitulation from these levels.
SHOP: bottomed and ready to ripSHOP has bottomed out after completing a clean 5 wave move lower. It should retrace from here to $870. DO NOT MISS IT!
multiple time frame analysis/update⚡we are at the last line of support on this one, good chance we consolidate or bounce in the near future now.
but as always lets be ready to play both sides, I like long term call swings above 519.02, puts below 266.57
Shopify... Fill Your Cart ??Short term trade suggestion on Shopify (SHOP) on the TSX Exchange.
Confluence of a Harmonic pattern and a Pitchfork (secondary bounce off of the outer channel.)
Nasdaq showing signs of a short term bottom. This is key !
$410 -$414 would be my preferred entry level on a point D retest.
Don't be greedy. Use a tight stop.
Do your own due diligence and respect overall market sentiment.
S.
Break of structureBreakdown of structure with series of Lower Highs
Waited for pullback on 30min and brought puts on continuation
SHOPIFY Bottom PotentialAn upward channel can be drawn from a strong trend line point on SHOPIFY
It provides a chart like this, showing a clear top, and also a potential bottom that aligns with the 4.618 fib
An attempted support can be seen to have formed at 2.618 (yellow)
This leaves 4.618 as a bottom point, which has also been seen as a bottom in the past (green)
Two bullish chart patterns can be seen on chart along with one bearish
Ascending and Descending wedge both acting bullishly
Followed by a Double top, considered a bearish pattern
SHOP to 250 ????$SHOP Darling of small businesses during Covid Lockdown seen hughs of 1700s now trading at a mere 300 level. It is currently below its IPO VWAP and at a last strong support. Doesn’t mean it can’t break.
$250 will be the next . Caution
SHOPNo position, Waiting for some conformation, Currently looks ok next Supports are at 280, 160 area, lets see if it holds 320 area.
SHOP - Will it roll over again or BTFD?
Price lost the 11 EMA again, but showing divergence now on daily. If it can claim EMA today, I like this to break to the upside.
Trend is clearly down, so price likely to continue to push lower on any pop, but if you have a long horizon, not a bad spot to open a position with tight stop loss.
I went long at 350 today, 8% stop loss for now.
Swing Play into Stock SplitThis is very risky given market conditions and recent price action in Shopify. This stock has gotten completely beaten recently, maybe its just the Canadian curse. We are in a bearish market so this can easily be wiped out by tomorrow. Please be careful.
Now i dont recommend trading during these conditiona but i have been accumulating this stock for the long term but i do believe a possible swing trade is presenting itself.
Shop looks to be breaking out of falling wedge but so far only peaking. Bullish rsi divergence. I think people will want this stock back at 1000$ before the split in july.
Price was declining on smaller volume but we need it to pick up to really have a nice move up.
I would wait for retest or confirmation before entry, use tight stop losses i suggest ~360 ish.
SMA 50 and 200 acting as major resistance.
For shorter term PTs: 486, 540, 600.
DYOR.
SHOP is ______. Coming from mostly crypto myself and many others are exploring other markets
$SHOP is _______
A King Maker Trade (wildly undervalued, if done properly with options this is a kingmaker trade.
Bear market could drive this thing down though idk tho nfa
Bias more on upside. 15 May 2022
FOMO, investor entered into Shopify after 80% discount since the all time high. Weekly volume showing strength on last week purchased.
RSI showing bullish divergence
Resistance: 650
Support: 320
SHOP Support reached. Ready for a reversal soon.Shopify has a plan to dominate and they're not just reaching entrepreneurs and small sized businesses these days.
They're gunning for large retailers and they're making ground.
Especially with web developers salaries increasing and a shortage in experienced devs around the world. Junior devs are desperate for a start but lack the understanding to not be a burden on companies to train. Shopify provides the option to save businesses from this problem in a society where shopping online becomes more frequent and an important tool to reach more and more consumers.
Orton Capital Shopify Longlonged shopify, good on support and looks like the stock market is slowing the selling
Shop can bounce but will it go lower?Companies like SHOP have been going through a 2000 like bubble pop. The only question is there further down to go? using the nasdaq 2000-2003 fractal we can support the structure is complete or is due for a bounce and one leg lower.
SHOPIFY-SHORT TERM BULLISH SCENARIOQ1 miss and forecast for a lower revenue growth led to new selloffs and a 15% day drop for Shopify. The Canadian company lost more than 80 % from its peak in November 2021.
$300 is a key level for Shopify if a breakout occurs drop to $180 will be inevitable. On the other hand, the $300 level may be a good positioning opportunity for a short-term bullish scenario to the $ 400 resistance.
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$SHOP with a Bearish outlook following its earnings #Stocks The PEAD projected a Bearish outlook for $SHOP after a Negative Under reaction following its earnings release placing the stock in drift D.
Looking to go long.Looking for a short bounce at a minimum and hoping for a longer ride. Entering long at the open if nothing is rattling the markets.
