SHOP trade ideas
SHOP - done consolidation?Uptrend intact as long as it holds above the rising trendline (caveat!)
Long @ 1010 with initial stop @ 979. Once trade goes our way, trail stop upwards towards first target @ 1105.
p/s Should stock break below the rising trendline, I would exit position.
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
SHOP - Time for a pullbackShopify is finally starting to show signs of weakness. Decreasing volume, Potential MACD weekly bearish crossover, and major RSI divergence/overbought signals would suggest that it is time for a pullback.
I was hoping for one last impulse up, which may still happen, but is looking unlikely at the moment.
As always, I am not a financial advisor and this is not financial advice, Do your own research and formulate your own theories. Good Luck!
AFTER LOCKDOWN IMPULSE SHOPIFY IS RANGING - SHOPIFY - DAILYThe price has clearly moved up from February this year. There is a strong correlation between the pandemic global issue and the increase in price.
2020 has been a game changer and we have noticed that the market went up before finding a strong resistance illustrated by the horizontal red line.
Market price is still evolving along the main blue trending line, but might need to push down to the lower level of the new horizontal range created before testing again to break the red resistance.
Overall there a strong probability to see the market price break the red support line, any point close to the bottom support line of the new range is probably a good long entry point.
Excellent opportunity to buyAs long as we do not break the line drawn (orange color) it is considered an upward trend
We can also observe that the minimums are increasing (blue color)
What we are looking for is to grab the corrections to sell at the maximum
Buy range 995- maximum
SL 966
Remember to invest with caution
I recommend it to buy ; The probability of going up is greatI recommend it to buy ; The probability of going up is great We have A Chance To double The Buy ; follow me i will posted when We have to do
SHOP - 24.86% Potential Profit - Uptrend Corridor BounceUptrend Corridor bounce with target price set at resistance.
A very speculative trade with a great risk/reward ratio. However, a trade to approach carefully, despite the attractive potential rewards.
- Strong Uptrend
- RSI above / STOCH below 50
- MACD below Signal
Suggested Entry $1031.17
Suggested Stop Loss $989.53
Target price $1293.48
Note that I tend to adjust stop losses in order to secure profits early and preserve capital. This means that the target price is going to be achieved as long as there are no strong pullbacks that trigger my new adjusted stop loss.
$SHOP Flagging$SHOP flag getting tight, inside week, a few fake-outs last week, path of least resistance would appear to be up
SHOP 8-9 week base. LONG$SHOP 8-9 weeks base. Ready to breakout big. E-commerce demand was never this high before. Keep a close watch$SHOP 8-9 weeks base. Ready to breakout big. E-commerce demand was never this high before. Keep a close watch
SHOP Round UpSHOP is looking bullish again as its starting to form a rounding up formation back to the resistance level of $1100. It has closed above its moving averages with a doji candlestick which can conclude bullish movement upward.
$SHOP rising wedge$SHOP in rising wedge pattern. 1000 will be the pivot point to determine whether it is bullish or bearish in the short-term
VERY - a beyond meat clone, mush watchCould run up in a sector like beyond meat, must watch risky but could be good returns
daily analysis of SHOPIFYHi friends
the daily chart of this market shows that it will experience an uptrend in the coming days but at the same time you have to be vigilant of the change of this market towards the opposite direction
please subscribe to receive more analysis
SHOPmini double top formed, macd momentum slowdown, watching for potential mini draw backs to trend line or support. Dont swing this one day trade it depending on where the stock wants to go
