It is hard to believe but there is a lot to like about this NYSE:SHOP chart. What I like is that it has recently come back and touched the rising 40 Week MA (white). It Just bounced off the AVWAP from all time high (meaning that the aggregate of shareholders since that time are in the money). It is well above the 18-month AVWAP. And it is moving up through the...
If you missed the latest bull run...
SHOP just retested the latest weekly bear flag and is bouncing off of it
SHOP is validating a new resistance trendline
--> This all may put SHOP in the $40s through Q1 2024. That's my going to be my level to buy.
NYSE:SHOP has had an incredible year and we may have another strong accumulation opportunity in front of us. SHOP has been in a strong uptrend since recovering its 200MA in January. We the December 2022 low and an overbought condition in February 2023 set a range for the measured move of the gap up on May earnings.
The May gap came close to closing during the...
HI guys, ive been following Shopify (SHOP), since its test of some important SUPPORT. This is a quick update from my previous idea. (Which you can find down below for more context)
We've currently bounced extremely bullish off the SUPPORT level, heading towards a SUpport turned Resistance line associated with the UPTREND channel i identified.
Normally when we...
Hi Guys! This is a Macro Technical Analysis on Shopify (SHOP) on the 1 Week Timeframe.
Its to add to my previous analysis while keeping it brief and concise.
Recently we Broke through and confirmed BELOW both the Uptrend Channel and the 21 EMA.
Normally this spells TROUBLE, especially if we confirm BELOW 21 EMA, as this moving average normally holds SUPPORT...
The SHOP stock price is within the support and Resistance zone. As per the chart, the price is bouncing back from the support zone and potential chance to profit 15% in LONG.
Based on the slopes of the AVWAPs and prices crossing below shows no appetite of risk for smart flow, if market agrees with the idea could prove an extension downwards to $47 ranges
I am bullish on SHOP for 4 reasons:
1) We held the 1W MA and it has acted as support since Feb 28. It is curling up, meaning that the trend is now bullish.
2) We have formed a bullish pendant on the daily and weekly time frame.
3) We have recently touched the green Bollinger band on the RSI.
4) The 0.236 fib level at 59.91 recently acted as support.
I am...
On the 15 minutes chart there is a possible new bullish wave ready to go.
Early bullish cross with price that is working to create a positive action.
Waiting for a move above $57
Looking for consolidation and/or bounce with volume on NYSE:SHOP this upcoming week to get long.
Overall market cooperation is likely needed. Especially mega cap tech and semis. Those charts aren't looking good. So relative strength (consolidation) may be interesting for long with stop just below prior resistance/pivot?
Entry: when price clears 65.54
Volume: with daily volume greater than 17.46M
Target: 75 area
Stop: depending on your risk tolerance; 62.40 gets you 3/1 Risk/Reward.
This swing trade idea is not trade advice and is strictly based on my ideas and technical analysis. No due diligence or fundamental analysis was performed while evaluating this trade idea. Do not take...
Hi guys! This is a Technical Analysis on Shopify (SHOP) on the 1 Week Timeframe.
Since its not the end of the Week, we have to wait till the end of week to see how this week's candle closes.
We ATTEMPTED to break
->1. The ORANGE resistance zone above the 1 FIB level
->2. The "MAJOR RESISTANCE" labeled line that represents a RESISTANCE trend that...
