tsx_trader

SHOP at bottom of channel (Long)

Long
TSX:SHOP   SHOPIFY INC
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Shopify appears to be at the lower level of its present trading channel. May be a good point to begin anticipating a reversal. Although the markets are on a down turn for tech on the TSX as of last few trading days. I am going to watch for a possible long swing position.

The overall channel from June 8th supports my position. So does the more recent trading channel in the month of August, so does the moving averages because they are below the stock price and will push it up. Additionally, it has recently had a double top , so it may get really nice if it breaks through 1471 on the upside.

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