This is very risky given market conditions and recent price action in Shopify. This stock has gotten completely beaten recently, maybe its just the Canadian curse. We are in a bearish market so this can easily be wiped out by tomorrow. Please be careful.
Now i dont recommend trading during these conditiona but i have been accumulating this stock for the long term but i do believe a possible swing trade is presenting itself.
Shop looks to be breaking out of falling wedge but so far only peaking. Bullish rsi divergence. I think people will want this stock back at 1000$ before the split in july.
Price was declining on smaller volume but we need it to pick up to really have a nice move up.
I would wait for retest or confirmation before entry, use tight stop losses i suggest ~360 ish.
SMA 50 and 200 acting as major resistance.
For shorter term PTs: 486, 540, 600.
DYOR.
Now i dont recommend trading during these conditiona but i have been accumulating this stock for the long term but i do believe a possible swing trade is presenting itself.
Shop looks to be breaking out of falling wedge but so far only peaking. Bullish rsi divergence. I think people will want this stock back at 1000$ before the split in july.
Price was declining on smaller volume but we need it to pick up to really have a nice move up.
I would wait for retest or confirmation before entry, use tight stop losses i suggest ~360 ish.
SMA 50 and 200 acting as major resistance.
For shorter term PTs: 486, 540, 600.
DYOR.