SHOP trade ideas
SHOP: Ascending Channel (45%), WEEKLYShopify currently in an ascending channel on the Weekly chart.
Bounces back and forth since March 2020.
Watching for a bouce back when price action reaches support at 1300$.
Will likely bouce back on 50 MA which also is the bottom channel.
If confirmed:
Price target = 1882$
Stay humble, have fun, make money!
Shopify about to hit long term supportShopify about to hit it's long term support. Longing at CAD$1650, Sell at CAD$1970
4h Timeframe SHOPSmallwr time fram using here.
4h.
Inverse head shoulder which shows on daily also.
Could move up here.
$SHOP huge rejection of the VWAP...Relative weakness today, came up to the VWAP and rejected hard. Long term put spreads in play still but this one is very indecisive. Took a flier on one put spread, but wouldn't play until we confirm under $1,400 or above $1,500, until then it's just playing with weekly premiums.
$SHOP back to the VWAPWith the market strength again, this is rebounding nicely, however, still needs to clear the VWAP. No position, short hedges closed. On watch for a long/short based on more data in the next few days...
$SHOP so far holding....This is a strong stock, so always potential that this was just another test before the next big move higher. The play was a technical opportunity based on market weakness, so when the market is strong this holds. Still keeping my $1,350/$1,300 put spread another day just in case tomorrow pulls back hard again. Added a $1,500/$1,550 call spread on the option that all stocks, including this, recover big into the end of the week. 50/50 chance at this point...
$SHOP under the VWAP...First target around $1,240, next $1,130, all based on current market weakness. Will need strong rebound to keep this from dumping more...
SHOP descending wedge is as at a lower edgeWhile I'd look for a breakout to the upside to this descending wedge, I think it's equally likely that price will bounce off my purple breakout line and head down for another leg. We'll have to wait and see.
It's also noteworthy to notice we're now trading below the grey resistance area, so that might add an additional ceiling to bounce off.
SHOPIFY (1W) - Bear market incoming. Hi Traders,
Cosider this Analysis of SHopify as one of the representative companies in e-commerce sector. Which could bealredy marked as Over-valued.
Chart Show all important informations.:
+ RSI and MACD are alredy showing Divergencies.
+ Market is Hesitating at curent price (some players are taking profit).
+ according to Elliot wave theory, you can see extended Wave 3. Wave 5 is alredy 1:1 with Wave 1. And 5 impulsive subwaves are also visible at 1D chart.
Market / some sectors can be very overvalued right now. Let me know what you think about this idea. Best would be to post you EW Count ;) (Im Always glad to learn someting new, and discus different opinion).
Shopify Hoping shop breaks bullish.
Great e commerce stock.
Tread carefully as the chinese news a long with market conditions can make it go down.
I do think the market needs a correction.
Pennant on shop, i think it will continue to consolidate before breaking.
$SHOP hanging on by a thread...Rebounded this morning, held my puts to wait it out. If we break, first target $1,390, then upper $1,200's on a whole market breakdown
SHOPIFY'S FUTURE - Where Shopify (TSX:SHOP) Stock Could Be....3K Could Be The Future Of SHOPIFY (TSX:SHOP) In 2 to 3 Years.
Evidently, there will be a little correction to the south --> say 1062.6 (Good case) or 800 zone (Worst case scenario) and then ''SHOP'' will head northPole direction from there. Nothing left to say because my chart says it all :) bottom line? = BULLISH all the way!
This is my ''PPP" (personal professional prophecy) on ''SHOP'' - Please do your own due diligence / research prior to making a buying/selling decision.
All the best!
SHOP could go downconsidering the Fibonacci resistances (and historical behaviour, 'cus it is the same), the stochastic indicators, momentum and the fact that it went through the EMA-50 in any case the price keeps under 1478 there are good chances of going down till 1435 or 1382. Stay aware of any sign of an unexpected rise. I'll give it a try going short
$SHOP Cypher Can bounce hard Quick view on shop, $$$ Stock but you can bank w small shares, id watch it, same rules on pattern
SHOP.... drop? ($1300)So I posted an idea about BYND that involves this diamond pattern that I discovered. I checked in on SHOP and it too appears to have that diamond pattern. If this diamond pattern plays out, SHOP can drop down to $1300-$1250. I was skeptical, but then I hear news about increasing competition in the news. I'm interested in what you see.
SHOPTrade Idea: 9/10 1600C over 1560.
SHOP over 1600 can run another 50 points.
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