jconnelly
Short

TOPIFY? Shop at the top of the Long Term Channel

TSX:SHOP   SHOPIFY INC
SHOP looks ready to roll technically - heavy resistance at the top of the long term channel, along with a 1.618 extension off the all time low. Timing wise, we have a TD8 on the weekly bar. Very potent cocktail of technicals. I would expect a retrace to the 230-260 range, at minimum.

Comments

i just sold today
Reply
jconnelly andresigodt
@andresigodt, nice. I am frankly shocked it has gone this high. Was not expecting the channel to break up.
Reply
continued on a bit longer but its now looking close to being ready to drop, losing that 375 base might see it quickly down to the 280's to 230's. nice work
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out