Orton Capital Shopify Longlonged shopify, good on support and looks like the stock market is slowing the selling
SHOP trade ideas
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.
SHOP, At What Prices May This MAJOR Correction End?How far SHOP can go down? There will be a bounce ? If yes at what possible prices?
We accurately predicted the stock path several weeks ago by means of Elliott waves and called for a Big Shor t at ATH ! What is next?
Currently SHOP is in a MAJOR correction. SHOPIFY completed a primary degree wave cycle which was started at 18.48 USD on Jan 2016 at its ATH (1762.92). This wave cycle lasted for 6 years and showed 95 times growth from the very bottom to the very top.
Since then , Stock started a correction to that cycle which is primary degree wave 2 . This is really a sharp decline. As shown on the chart It is now reaching to 50 % Retracement of primary wave 1 at 890 USD. Possible labels in correcting patterns are shown on the chart. It is not know at this time which labels ( e.g 1 or A ) is a true one. We have to wait for correction waves to unfold in order to decide between them.
Can it go further down even lower than 50 % Retracement? Of course it can ! I am afraid to say that Unfortunately most possible Retracement for large degree wave 2s is 0.786 level . If this happens SHOPIFY may see unbelievable 391 USD at the end of correction. For now lets hope for higher Fibonacci levels e.g 0.618 Golden Ratio at 684 USD.
Although It is possible for the correction to end at all shown Fibonacci levels , I tried to give them a probability ( As I see) by means of thickness of arrows with narrowest to be least probable and thickest to be the most.
Good news for long term investor and holders is next long term bull run which is primary wave 3 will push the price up to above 3000 USD !
We keep it in watch and go shopping in appropriate time ! Lets follow !
Shopify (NYSE: $SHOP): Insane 77%+ Pull Back In Effect!⚡Shopify Inc., a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company's platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing. It also sells custom themes and apps, and registration of domain names; and merchant solutions, which include accepting payments, shipping and fulfillment, and securing working capital. The company was formerly known as Jaded Pixel Technologies Inc. and changed its name to Shopify Inc. in November 2011. Shopify Inc. was incorporated in 2004 and is headquartered in Ottawa, Canada.
SHOP Earnings Miss | Slowest Revenue Growth in Seven YearsIf you haven`t sold SHOP at $945:
Then you should know that Shopify said adjusted earnings for Q1 came in at 20 cents per share per share VS a profit of $2.01 per share over the same period last year and VS a consensus forecast of 77 cents per share.
Gross merchandise volumes rose 16% to $43.2 billion VS Street forecasts of a $45.4 billion.
The stock is closer to our $350-400 buy range now.
Looking forward to read your opinion about it.
SHOP broke out!Massive Trendline break on SHOP.
I am watching for a possible pullback towards 475 / 470 , rejection and another push above 488.95 (which would be my entry)
Above that levels are 512.81 / 573.85
Also important to note new channel that is possibly forming. Could offer some support.
$SHOP Short Opportunity$SHOP $537 level to watch to get shorts out of their positions and puke it up. Monthly VWAP has been acting as real resistance with some flattening occuring signaling some strong buying/covering here as volume and OBV also checks out here. Still a daily bear flag, but this is a similar fractal pattern as you will see on all timeframes from 1 minute up to daily/weekly, sometimes what looks to be easy shorting turns into a short squeeze that only serves to knock you out and flip your bias as short term as it maybe.
SHOP ready to reverse?SHOP is showing an interesting setup.
Previous support now acting as resistance ($450). This is also a strong psychological level.
If we break and hold above $450 there is room to $510
Trade idea:
Entry price: $450 (Break and hold above) *Always wait for confirmation*
Targets: $472.50 , $490 and $510
Option Strike: 510c 5/6 (Currently trading at $10.80)
Stop Loss: $405.00
Disclaimer: This is not a trading advice nor a buy/sell signal. This is for educational purposes only. Trade at your own risk
Short term rally for ShopifySHOP has caught my eye.
TA: The price has been consolidating at the bottom of the latest downtrend.
• Heikin Ashi bars are all largely dojis or slightly positive after a strong downtrend, signally a possible reversal.
• Fibonacci retracement levels are all positive.
• EMAS are inside the Fib levels. First resistance would be the 50 EMA and 0.382 Fib
• RSI has been oversold and is now increasing
• MACD histogram has turned green with a positive crossover of the MACD / Signal line
Target 1: First resistance would be the 50 EMA and .382 Fib between $545 - $550
Target 2: If the 50 EMA is flipped the next resistance level is the 100 EMA and .618 Fib between $625 - $645
The newly found positive moment may start to flip the remaining EMAS with the 50 and 100 crossing the 200, which would be a full trend reversal.
The stock market sentiment is still bearish for now, so we might just see the first 2 targets.
FA: Shopify will release earnings report on Thursday 5th May before market open.
Tradingview has the EPS estimate @ $0.64 with a Rev of $1.24B
Earnings whispers has the EPS estimate @ $0.97 with a Rev of $1.25B with a 26% Expected revenue growth.
Potentially a beat on EPS and good growth will be a good catalyst.
Buying today when market opens.
Shop = Bad Earnings I think...I think Shop is going to see some downside in the days coming... first consideration for buying it and going long is the shaded area....... earnngs is coming up in a couple days so it can get messy so use caution.
Bottom is nearEarnings on May 05 and split 10/1 on Jun 29.
RSI oversold in Days and Weeks.
$420 would be a nice entry point, what do you think?
Do you rather enter before the split or after?? why?
SHOP decision timeSHOP is sitting right at support,
a rejections and a strong day in the Qs can send it to the upside (667.45)
However another weak day can have it retesting another support (3x) at 511.72
SHOP loses another support levelAnother support level has been lost - the next one is at the 300$ region
SHOP: BOUNCE ZONESHOP (Shopify) has dropped 70% since November 2021.
Yes we can drop more. However I like the risk reward ratio here as the price is now sitting on a trend line (in green) connecting the lows of Nov 2019, March 2020 and March 2022.
The weekly RSI is slightly oversold and we're starting to see a bullish divergence .
Bonds are bouncing already, which could support a bounce in growth stocks .
I'm a buyer at this level for a possible bounce to 640. I can cut my position quickly and without too much damage if I'm wrong.
If we drop more, the next levels are between 437 and 413...
Trade safe.
Was the SHOP sell-off predictable?Of course it was! It reached both of my price targets:
And now i think it will go even lower.
My experience as a seller on 2 Shopify stores was terrible in the past 4 months. I had a decrease in sales of more than 60%. My friends with on-line store had the same experience. So if the merchants don`t make money, neither do Shopify.
It`s hard to believe they will come up with a good quarter.
My buy area is lower than $400.
Looking forward to read your opinion about it.
SHOP - consolidating here before moving to $750?Interesting to see this one catching my eye earlier in the week and seeing a bullish continuation. Something is happening with Shopify and the charts are pointing to positive uptrend. This is trading at $600 from highs of 1600. Do we expect to hit 1600 again? not anytime soon, but this is consolidating here at 600. and potentially lining up for a run back above 700.
Absolutely Wild Sell Off For Shopify (NYSE: $SHOP)! 🛍️Shopify Inc., a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company's platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing. It also sells custom themes and apps, and registration of domain names; and merchant solutions, which include accepting payments, shipping and fulfillment, and securing working capital. The company was formerly known as Jaded Pixel Technologies Inc. and changed its name to Shopify Inc. in November 2011. Shopify Inc. was incorporated in 2004 and is headquartered in Ottawa, Canada.
SHOP Long off Monthly DemandAs is with most stocks right now, SHOP is returning to the former breakout area from march. The market does this time and time again. This area is called Demand. The first time back to Demand typically results in a nice rocket ride. While the high time frame demand zone is the most ideal place for a long, It is also possible that shop bounces from this area which is the market maker discount zone. If they want a deeper discount they will visit the equal lows indicated by the pivot markers or somewhere nearby in the demand zone before taking off.
