SHOP has been in a nice uptrend and recently has pulled back to 21 EMA. All the major EMAs are stacked positively. A bounce from any of these major Fibonacci support zones would be a good buying opportunity.
Trade active:
Entered off the 1075-1085 level support.
Entry Price = $1135
Profit Target 1 = $1337 ( ~18% from the entry price)
Profit Target 2 = $1409 ( ~24% from the entry price)
Entry Price = $1135
Profit Target 1 = $1337 ( ~18% from the entry price)
Profit Target 2 = $1409 ( ~24% from the entry price)
Trade active:
It retested the 1075-1085 support and took off again from there. It is almost about to reach the first target of 1337.
Trade closed: target reached:
Second target reached and blew through it. I exited the trade since the easy move has been made and earnings are coming up on Feb 17th. But if you want to take a shot for more upside then you could trail up the stop to $1410.