curtmelonopoly

Caution! $SHOP trading 147.22 has done well but, see chart notes

NYSE:SHOP   SHOPIFY INC
$SHOP trading 147.22 has done well since we signaled long 106s wash-out in Oct. MACD high - caution longs.

What a great trade signal long for our swing trading platform back in October when everyone panicked on the wash-out.

The problem is now that price on the daily chart is significantly higher than moving averages and the MACD is extended to be sure.

When the Stochastic RSI , MACD and Squeeze Momentum start to trend down this will likely be a decent short to at least the 50 MA.

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