zSplit
Long

SHOPIFY: Should Hit $650 (CAD) this Year

TSX:SHOP   SHOPIFY INC
Despite some headwinds that we are facing with the US and Iran, this will be short-term noise for a healthy 5% or so pullback (not necessarily all in consecutive days), but mostly in January before we turn the tide.

In the longer-term this will have little impact to the sentiment of the market, but instead, will allow defense stocks, energy stocks (including oil ) and precious metals to surge strong this year. As I have been saying for the past 6 months, look for big moves in oil/energy and precious metal stocks. It will take 1 or 2 months of elevated oil prices to see significant moves in the energy sector, but its coming. Be patient!

Despite so much cheap money in the market - I don't want to be - but I am very bullish on certain tech stocks this year. I am expecting the following for some big names such as Facebook , Google , Apple , Microsoft , AMD , Netflix , Tesla , Baba, Bidu and Amazon.

Facebook could be one of the dark-horses this year, and a 40-50% gain is not out-of-the-question.

Shopify will continue to break-out after its fallen descending triangle and eventually break-out to run to 650 or more by year-end.

Remember: don't invest based on what you want to happen; invest on what you believe will happen.


- zSplit
Jan 22
Comment: Shoptify continues to surge alongside other Canadian tech companies like Contellation Software and a slightly different form of tech (IT) but CGI Inc.

New target for Shopify by year-end: $700 +/- $25.

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