Looks like SHOP's uptrend line held and we're resuming climb but it won't be clear until 91 level closes/holds as support. If we close < 91, I'm guessing we'll retest the uptrend line again where it intersects around 87.4 support. If we close > 91 (and then open and close > 91 tmrw), I think it'll keep going to test the 94 resistance level and perhaps establish 91...
Shopify American stock buy setups at monthly demand level at 46.18 #SHOP. Strong bullish impulses creating weekly and monthly demand levels to go long at. This is a long term buy setup, no supply levels to the left since it's making all time highs. Buying at monthly and weekly demand zones is the way to go.
So far, SHOP has tested lower support levels but uptrend line has held by close each time. Looks like it's poised for a bigger move either up or down given that wedge we're in now (which will be determined Monday July 10). Looks like a close above 86 keeps uptrend intact & depending on if it closes closer to the top of today's candle/wick vs. the bottom we'll know...
Ok looking good. Bounced off the 84.5 trend line, tested/rejected the 87.4 new support but holding > 86 well. Uptrend intact:) Is it fake? We'll know if it closes above or below the uptrend line intersection at ~85. If above, uptrend still intact. If below, could still head lower to complete the head and shoulders. Personally, I think it will hold & either retest...
Looks like ever since the 91 offering, SHOP's been trying to find new support (~87.40?) burdened by bear raids...looking like clear head & shoulder forming but will need to break/close below that long uptrend line (84.4) to be sure it's reversing down...personally I think we'll retest that line & it'll hold (providing excellent entry as anything under 91 is solid)...
Watching to see if we close above or under the 84.5 uptrend line intersection. Looks like it might close just above it today but depending on how much, I think we may test it again tomorrow - esp. Friday before a long weekend so waiting til then to confirm.
If closes below 94 resistance, likely chance to enter during retest of 91 early next week before breaking through 94...it was on its way through 100 right when they announced stock offering @ 91/share, rebounding now after being oversold due to fear/panic. Excellent for selling puts/calls.
$SHOP - Shopify Overbought Expecting a pullback below $85 in near term
SHOP Breakout of the ascending channel today on the upside. Should continue bullish with a target price around $90 before it takes a break. $SHOP
SHOP SHOP will continue long. Big run up on earnings put it above the upper Bollinger Band, so the last two small down days is bringing it back into the and expect it to continue up on Friday.
Bounced off up trend support line at $68. Headed north of $74 by end of May.
I'm long the 20jan 45 calls of shopify, and already in profit. this stock seems to be a clean and clear breakout and possible profit target is 57 area. if you'd be long on the 01.06.17 (m/d/y) you should have put your stop loss around 44 area, and if you 'd still be holding your position it would be ok to move your stop to 45-46 area now.