Shop here looks like it's a falling knife to the downside and could be targeting the very low 700 range with a break at 790. Been brutally murdered.
Shopify interests me a lot if it can holds this 1285 lvl Breaking below there will signal more sell to come.
See chart for details. Breakdown of what I'm seeing there. Good luck and trade safe!
WATCHING I would consider starting a position @ 19.51
Shop dropped all the way to 1006.21 when the market plunged in March. Since correcting 32% from its all time high, SHOP has been strong as the tech led rally continues. Its earnings are coming up this month and it has showed strength throughout April. It is also trading right above its January range which should serve as a strong support.
NYSE:SHOP Support and resistance taken from 1 hour chart.