$SHOP Shopify Holding Trendline - Reversal Underway

$SHOP Shopify appears to be holding the longer term trend line after bouncing off support around $151.00 yesterday. Both RSI and MFI are beginning to reverse from oversold territory. Expecting further price recovery in the near term - will monitor for a break of the 50d ema for confirmation.

Short term target - $162.50 (gapfill)
Medium term target - $175.00

Stop loss - $149.50

Note: Observation/opinion, not investment advice.


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