Shopify share price tripled compared to Tesla confirming accurate technical analysis Strong Buy since IPO $20
Currently Looking at July 19 Aug 19 call options. IDEA: FED JUN 19th hold rates + China snubs Trump at G20 on 29th.
Ticker : SHOP Entry : 140 to 147 ishh Stop Loss : 116 Ishh for now Profit Range : 200 + Holding period : 4 to 6 Months or May be 12 Months
We're way beyond reasonable valuation at this point. What we have here is a bubble that's gotten out of hand. See $TLRY's momentous run up last year, what goes up must come down. But how and when? $SHOP is a pure momentum stock that people keep buying out of FOMO, it only just over 8 Million shares, which means it will move on you...FAST. THIS IS NOT FOR THE...
Massive run appears to be topping out. Zacks just rated them as "bear of the day" because "they just don’t make very much money." Overextended after nearly 80% run in the last 4 months. Stock is not HTB Short around 214 Target 1: 208.87 --- 2.48% Target 2: 198.61 --- 7.3% Target 3: 184.15 --- 13.8% Target 4: 170.22 --- 20.55%
So i'm running +50% on this one. Nearing a big trendline, 1.618 fib and the steam maybe over for some days/weeks. A correction to 210 should be in play i think
Shopify share it is near a big AB=CD resistance so I don't suggest to buy now. Just wait until the price make a good correction and buy it or search for selling opportunity.
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can it finally break its resistance? or will it fall back into its broadening formation?
SHOP is pushing higher supported by a close 20 EMA and bullish MACD, Parabolic SAR and RSI. No signs of slowing.
This company is growing 50% rev yoy and involved in Cannabis... it can move and looks to have bottomed.
Did SHOPify breakout of a bull flag? 1) Bullish open and close candle above the trend line. 2) MACD bullish (although histogram is slowing) 3) Force Indicator is bullish 4) RSI is not overbought or showing any signs of bearish divergence. 5) Parabolic SAR is bullish 6) 20 EMA is above the 40 EMA indicating a bullish trend 7) 50 EMA is above the 200 EMA also...
Trade Idea: Bearish Reversal Price has been consolidation at the edge of the channel for almost a week now, indicating that price is exhausting its bullish swing. Trade Step-up: Short Price rejects a breakout from the current channel trend. Look for a reversal to 140.00 & 125.00. Stop loss at 165.00.
After looking through finances I am not a fan of Shopify in the long-term being able to support itself in terms of it's finances. For the technical traders out there it looks like price could have bounced off of the resistance level. Just something to note or keep an eye on.