Bullishcharts

$SHOP back on the shopping list.

Long
NYSE:SHOP   Shopify Inc.
Possible entry level $305 = Target price $325 = Stop loss $295
Possible short entry on break below 200MA.
7&12 Moving averages need to be broken as resistance.
Stock still holds big profits for investors so any market weakness could be compounded as SHOP is used as a source of Cash.
Indicators are trying to stage a reversal and strong volume came to the rescue on strong historical support at $283.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.