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jacobosiason7

Falling Wedge- Bullish

Long
Shopify Inc. (NYSE:SHOP)  
jacobosiason7 Updated   
NYSE:SHOP   Shopify Inc.
Trend Analysis Chart Patterns Technical Indicators support_and_resistance falling_wedge supply_and_demand Bullish Patterns breakout swing squeezing Hammer
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trendanalysis chartpattern indicator support_and_resistance falling_wedge supply_and_demand bullish breakout swing squeezing hammer
Shopify looking really nice here, certainly worth noting the 200 day EMA acting as strong support for SHOP as it has bounced off it three times since March, additionally Shopify does have earnings coming up on 10/28'. However, will be looking for a breakout from this falling wedge (Broader Market Conditions Permitting)- Just some support and resistance levels and some RSI based supply and demand zones to keep an eye on as well- bullish

- Big falling wedge forming on the daily timeframe
- EMA's starting to curl upwards
- Hammer right off the 100-day EMA
- Sitting on its 20-day SMA (Not Pictured)
- Bollinger bands squeezing on shorter timeframes

PT1- $1,435.50
PT2- $1,443.81
PT3- $1,451.70 + Breakout

Comment:
PT1 and PT2 Reached ✅
Trade closed manually:
All Price Targets Reached ✅
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