Shopify: Commerce SuccessShopify continues to dominate the e-commerce platform space, making significant strides in expanding its ecosystem for businesses of all sizes. As the company integrates more deeply into social media and international markets, Shopify is well-positioned to benefit from both consumer demand and business needs for seamless online selling. This strong presence in the global e-commerce sector makes Shopify a compelling investment for those looking to capitalize on the continued shift to online retail. NYSE:SHOP
Financial Performance
Revenue Growth: Shopify reported revenue of $2.05 billion for Q2 2024, representing a 20.7% year-over-year increase. The company’s annual revenue is on track to exceed $7.76 billion in 2024, up 23.18% from the previous year. This strong growth has been driven by the expansion of its merchant solutions and Shopify Payments
Earnings Beat: Despite macroeconomic headwinds, Shopify has maintained its profitability, with earnings coming in stronger than expected for several quarters. Analysts have upgraded the stock, citing its ability to continue growing in a competitive space
Cash Flow: Shopify’s cash flow has remained robust, driven by its diversified revenue streams, including subscription solutions and payment services, allowing it to reinvest in international expansion and new technologies.
Strategic Expansion & Innovations
Social E-Commerce & Partnerships: Shopify has expanded its integration with social media platforms like YouTube, allowing more merchants to embed shopping experiences into video content. This positions Shopify to capture more sales in a fast-growing segment of e-commerce
Cloud Infrastructure: The company continues to invest in improving its cloud-based infrastructure, allowing it to scale efficiently as more merchants come onboard. Its Shopify Plus platform, designed for larger enterprises, has seen significant growth.
International Expansion: Shopify has continued its aggressive expansion into international markets, particularly in Europe and Asia, increasing its merchant base and revenue potential globally.
Technical Analysis
Stock Performance: Shopify’s stock has rebounded strongly from its lows earlier in the year, trading at $78.68 as of September 2024. This represents a 4.6% increase from the previous week. With a price target now upgraded to $99 by some analysts, there’s potential for a continued upward trend
Valuation: Shopify’s price-to-sales (P/S) ratio is around 13.04, which, while high, is justified by its strong revenue growth and market-leading position. This suggests that investors are paying a premium for its potential to continue expanding rapidly
Fundamental Perspective
Shopify is one of the most compelling plays in e-commerce and SaaS. While it doesn’t currently pay a dividend, its high growth rate, strong financial performance, and strategic innovations make it an attractive investment for those looking for exposure to digital commerce.
Upcoming Earnings Dates
Q3 2024 Earnings: Expected November 2, 2024
Q4 2024 Earnings: Expected February 5, 2025
Shopify’s continued focus on social commerce and international growth makes it a strong buy for long-term investors, particularly those looking to ride the wave of e-commerce expansion globally.
$78.68 NYSE:SHOP
Pitchforks
Ethereum's Path Forward: Key Levels and Forecasted TargetsFollowing Trump’s victory in the U.S. election, Ethereum began an upward trend, reaching a peak at 4,868.00. Based on projections using the pitchfork analysis, it appears that after breaking through the 3,000.00 level, Ethereum will continue its rise toward 4,868.00. After a potential pullback to the 4,000.00 range, Ethereum is expected to break past 4,868.00 and continue its ascent toward future targets.
US500 morning analysisTechnical analysis for US500.
Impulse from 5 August 2024 low playing out.
Bears see price stopping below 6197 to complete wave (5).
Bulls see extended impulse and median line of pitchfork as target.
correctionIt seems that the employment report was not good, if the support is maintained, there is a possibility of correction
US500 morning analysisTechnical analysis of US500.
The key support in this analysis is 5088.9, the 5 August 2024 low.
For the median (red) line of the pitchfork to be tagged, wave ((5)) will need to be expanded; therefore, price would now be in wave (2) of ((5)), with fib support, pitchfork support, and potential buying area in the 5300-5500 range.
The bearish case would have the top being in, and if this occurs, pitchfork support then price support will fall in an impulsive manner, with bearish targets below October 2022 low.
BTCUSD evening analysisTechnical analysis of BTCUSD.
With rejection of price from ATH, this idea imagines price action since March 2024 as a zigzag, with leading/expanding diagonal A, double-three B, impulse C.
Next week's election certainly could be a catalyst for such a move.
The most bullish C would finish above the A, with strong .618 fib support and pitchfork support in the 58.5k area.
Caution With $DXY At SupportThe TVC:DXY is touching the 200 week moving average and also the median of the bear pitchfork. Double support usually provide a bounce, those who are bullish the 50 basis cut might be trapped and rekt.
SUI Jumped in TVL and Still Looks Bullish / Targets and PlansBINANCE:SUIUSDT
COINBASE:SUIUSD
Longterm Scenario
📈Which side you pick?
Bull or Bear
SL1 ---> Low-risk status: 3x-4x Leverage
SL2 ---> Mid-risk status: 5x-8x Leverage
(If there is just one SL on the chart, I suggest, low risk status)
👾Note: The setup is active but expect the uncertain phase as well. also movement lines drawn to predict future price reactions are relative and approximate.
🧐The Alternate scenario:
If the price stabilize below the trigger zone, the setup will be canceled.
US500 evening updateBearish count for US500.
Pitchfork drawn from March 2020 low, January 2022 high, October 2022 low.
October 2022 low saw price bounce off .5 fib drawn from January 2022 high to March 2020 low.
Price has been targeting the median line (red line) of the pitchfork since October 2022, but it has never tagged it.
Price teased above the 0.5 line twice (in teal), once in July 2024 and once in October 2024 (green ellipses).
Price attempted to get above .5 line again today and was promptly rejected.
Price has formed an impulse off 5 August low, with 1>3>5.
I would say this is a short opportunity; if price is to stay below resistance of 5884.7 and below .5 line of pitchfork. If median line cannot be tagged, then price will find its way (quickly) back to October 2022 low.
Key support is 5088.9.
ETHUSDComplete count for ETHUSD.
If ETHUSD has bottomed on 5 August, I think this is how you have to count it.
The truncation would be unusual, but I think that is the only way to get a complete impulse from June 2022 bottom.
Price bounced off of .618 fib on 5 August and has held within pitchfork ever since.
Lots of room to run if bulls can take price towards median line of pitchfork.
First Neiro(NEIRO) Ready to Fall==>> -15%_-20%!!! Today I want to analyze the First Neiro ( BINANCE:NEIROUSDT ) has recently gained significant attention in the cryptocurrency market, with a remarkable +87% increase in price over the past week .
The First Neiro(NEIRO) is Memcoin and operates on the Ethereum Blockchain .
The First Neiro( BITGET:NEIROCTOUSDT ) has reacted well to Andrews' Pitchfork lines , so we use these lines as Support and Resistance lines .
The First Neiro(NEIRO) attacked the Potential Reversal Zone(PRZ ) three times(In each attack, the volume is reduced ), but failed to break this area .
According to the theory of Elliott waves , it seems that NEIRO has succeeded in completing 5 impulsive waves and we should wait for a correction .
I expect First Neiro(NEIRO) to drop at least -15%, and if the Support zone($0.00156-$0.00148) breaks, we should expect a further drop (-20%) .
First Neiro Analyze (NEIROUSDT), 4-hour time frame⏰.
🔔Be sure to follow the updated ideas.🔔
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
SOLUSDT Long Setup Setting / It's Risky but we are traders ...BINANCE:SOLUSDT
COINBASE:SOLUSD
📈Which side you pick?
Bull or Bear
SL1 ---> Low-risk status: 3x-4x Leverage
SL2 ---> Mid-risk status: 5x-8x Leverage
(If there is just one SL on the chart, I suggest, low risk status)
👾Note: The setup is active but expect the uncertain phase as well.
➡️Entry Area:
Yellow zone
⚡️TP:
142.20
148.44
157.38
🔴SL:
126.23
b]🧐The Alternate scenario:
If the price stabilize against the direction of the position, below or above the trigger zone, the setup will be canceled.
XAGUSD evening updateBullish count for XAGUSD.
This count has price in wave 5 of (3), which would have it tag the median line above 47.
Valid as long as price stays above 26.449.
BTCUSD afternoon updateBullish count for BTCUSD.
This count has price in wave 3 of (3) of ((3)) of iii.
Price has been "reacquired" by major pitchfork structures, and bulls are looking for price to continue to target median lines.
Bullish hoping to see continued bullish price action over the weekend, with ATHs in sight.
This count needs to stay above 66659.55 to remain valid.
US500 afternoon updateUpdated bull count for US500.
Target for bulls is red median line of pitchfork (drawn from March 2020 low/January 2022 high/October 2022 low.
Current count has price in wave (3) of iii of (iii) of (v). Wave (2) tagged .618 fib drawn from 17 October high of 5884.7 to 15 October low of 5806.6.
Key support for this count to remain valid is 5806.6. Also key for price to remain above .5 median line support (teal line).
US500/NAS100 evening updateUS500 and NAS100 drawn with completed impulse waves down from 14 October highs.
US500 tagged .618 retracement this afternoon, and NAS100 has formed what looks like a zigzag with contracting ending diagonal c wave.
Highs of yesterday (16 October) reasonable stops for any shorts, with anticipated additional impulse waves down from those highs.
NAS100 afternoon updatePrice action falling out of the pitchfork without tagging the median line is certainly not bullish...
From 5 August low, I can see a contracting diagonal forming, with waves (1), (2), and (3) having fairly clear three-wave corrective structures/patterns.
Wave (4) in this interpretation would be an expanded flat, with wave c to go below 19614.1 and having Fibonacci and trend-line support to stay above 18676.2.
Wave (5) would then likely finish above 20758.4 to complete the pattern.
BTCUSD morning analysis (bullish)Summary of action for BTCUSD since 5 August 2024 low.
Area in yellow ellipse does not look impulsive. There is a way to get an expanding leading diagonal out of it, but it certainly does not have the "right look". Will need to come back to this price action later, depending on how future price action plays out.
Area in first red ellipse labeled 1. is similarly vague. It might be a zigzag, but again doesn't have the right look. Will come back to this price action later as well.
Area in first green ellipse labeled 2. is not the prettiest impulse in the world, but it can certainly be counted as such.
Area in second red ellipse labeled 3. looks very much like a zigzag corrective structure, bottoming at 58897.55 (which is now the must hold support for bulls).
From what I can tell, price action after the bottom at 58897.55 has two impulse waves up (small green ellipses) and two corrective structures (small red ellipses). The two corrective structures both look like expanded flats, and if true would likely mean price action after 58897.55 is a 1-2/1-2 looking for wave 3 rather than 1-2-3-4 looking for wave 5. Price getting above 69632.35 on an impulse wave off today's low of 65226.43 would confirm that assessment.
Overall, this does look quite promising for bulls, who have been waiting patiently through 7 months of consolidation.
Key level of support today is 65226.43. Key resistance to break is 69632.35. Good luck.
ARBUSDT Long Setup Setting / Layer2BINANCE:ARBUSDT
COINBASE:ARBUSD
📈Which side you pick?
Bull or Bear
SL1 ---> Low-risk status: 3x-4x Leverage
SL2 ---> Mid-risk status: 5x-8x Leverage
(If there is just one SL on the chart, I suggest, low risk status)
👾Note: The setup is active but expect the uncertain phase as well.
➡️Entry Area:
Yellow zone
⚡️TP:
0.5415
0.5519
0.5612
0.5732
🔴SL:
0.5022
🧐The Alternate scenario:
If the price stabilize against the direction of the position, below or above the trigger zone, the setup will be canceled.
YM1! evening updateAnalysis of YM1!.
This count sees price in wave ((5)) of (v), with wave (v) starting at October 2022 low.
From 5 August 2024 low, count in red is less bullish, count in green is more bullish.
If count in red is correct, then 5 must be shorter than 3 (as 3 was shorter than 1), and price will not go above resistance at 45062.
If count in green is correct, price would be in wave 3 of (3) of ((5)) and extend above 45062.
Regardless of whether green or red is correct, each ends primary wave (v), and if median line of pitchfork cannot be tagged, it suggests that price will revisit October 2022 lows.
As price gets closer to 45062, reward/risk for YM1! short off that resistance improves.
