COMP volume has diminished in the last few days leading those who bought at $450 support band to take large profits. I expect a test of support at $675. Invalidation of bulls at $675 could push the price down to $500. Otherwise support could gather at $675 for the eventual push to $1000.
Overall price outlook looks good for COMP because Ethereum has surged in...
No chart analysis needed for such an overvalued stock.
Pros for SHOP: high-growth sector, profitable, tech based, backed by big funding, decent branding.
Cons for SHOP: EV ~56x revenue, limited capturable market, weak monetization scheme, low market share.
I expect Shopify stock to crash spectacularly within 1-2 years, conditioned on one of two things...
EV/Revenue ratio is high, unimpressive revenue, insufficient professional business model and a slowing economy are all bad signs for this overvalued tech stock. Bulls are showing exhaustion on this unprofitable stock.
Shorted at 272...
