Id initiate a short/bearish position if it breaks that support (black) come next week, the stocks trading at an ATH, Zacks says it has an insane trailing-twelve-months P/E of 277.63X, comapred to the industry's 30x. The head and shoulders is a red flag, and a bearish flag can be drawn easily, with the line to the right shoulder from the head being the flagpole. A death cross just occured too (the 25 day MA slid under the 100 day MA). While I dont usually use MACD, it slid under the signal line too. So many bearish flags..
Tell me what you think, like to spread the message, itd mean a lot :) AMA and Ill def respond
I saw the same things as well, the momentum is definitely slowing. My guess is the big crypto crash is going to push a lot out of this sector and into gold. Puts on this thing are ludicrously cheap, definitely can see Shopify sliding back to the $880 support level. What do you think?
sdtheclub
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Ouch
Jodes2000
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The only problem being that the last group of institutional investors are at 1115 average. The short Interest volume is at 10% as of Friday. The stock has already been Hammered Down and it is also oversold. The last group of investors were in at 1077 just before the run up in February.