2H: (bullish)
SHOP to release earnings data before open today. If you're already invested or still plan to invest, here's what you need to know.
– stock is above all MAs (bullish)
– RSI can boast a higher high and double-bottom (bullish)
– MACD is neutral to bearish
– SAR is below 'daily' 20MA (bullish)
There are no technical mistakes in the prior 3 major patterns. The main multi-year channel is 'monthly' averaged with step-line over log. Within said channel, the stock maneuvered perfectly thus far and is expected to continue to do so.
Considering the endless run-up since 2017, and the numerous bull-signals that suggest another minor jump-up, the "steam" is likely to run out soon (as MACD and RSI suggest). 8 out of 10 major indicators are bullish, 1 neutral 1 bearish. Options pricing suggest a 30-40 point move either way (37 calculated). If it jumps up, there is somewhat a chance for a sell-off back to current levels. Also keep in mind that markets are expected to correct sometime this year.
Important: Note that if the stock fails to touch or cross the upper channel trend-line, it will be forced to touch the lower (later down the road).
RSI:
SHOP to release earnings data before open today. If you're already invested or still plan to invest, here's what you need to know.
– stock is above all MAs (bullish)
– RSI can boast a higher high and double-bottom (bullish)
– MACD is neutral to bearish
– SAR is below 'daily' 20MA (bullish)
There are no technical mistakes in the prior 3 major patterns. The main multi-year channel is 'monthly' averaged with step-line over log. Within said channel, the stock maneuvered perfectly thus far and is expected to continue to do so.
Considering the endless run-up since 2017, and the numerous bull-signals that suggest another minor jump-up, the "steam" is likely to run out soon (as MACD and RSI suggest). 8 out of 10 major indicators are bullish, 1 neutral 1 bearish. Options pricing suggest a 30-40 point move either way (37 calculated). If it jumps up, there is somewhat a chance for a sell-off back to current levels. Also keep in mind that markets are expected to correct sometime this year.
Important: Note that if the stock fails to touch or cross the upper channel trend-line, it will be forced to touch the lower (later down the road).
RSI:
Comment:
UPDATE: Stock surged above the upper trend-line followed by a sell-off as expected. In a few days we'll be able to say if it'll continue upwards or correct back to close the gap.
Trade closed: target reached