Today SHOP made a lower low, but is still holding the 100 day sma on the daily chart. I'm putting an order out there for a limit buy at $110 with a stop at $100. She may hold here and continue higher if the overall market does too. Let's see what happens :D
Observations We are currently in the intermediate 3rd wave of the major 5th wave. Based on Elliott wave count, it appears that intermediate 3rd wave is complete which means we are due for a correction. Expecting wave 4 to be a small correction within 0.236 - 0.382 fib zone as wave 2 was a very significant correction to 0.786 fib. Target price for the...
Sell the Feb 16 SHOP 100/95 Put Credit Spread for $0.65 or better, for a 13% (not counting commissions) return within 35 days. Stop loss should be if the spread increases to $1.30. SHOP has held the 61.8% retracement of the Sep 17 high to Oct 17 low and is clearing the way for higher moves. Playing it with selling a put credit spread and receiving $65 for every...
Shopify is a SaaS company providing eCommerce solutions to businesses of all sizes. They allow retailers to set up websites for fractions of what it cost to build a full blown eCommerce platform from the ground up. The company is showing explosive revenue growth due to the proliferation of online retailing and the ability to provide a better and cheaper solution...
Shopify softened a little over the holidays but had a strong bullish punch on Jan2. Earnings coming up at the end of January, so I expect a retest of the 50-day SMA and continuation higher. We have `JAN 18 2019 SHOP $90` naked puts sold for `$15.00` two weeks ago and `APR 20 2018 SHOP $90` naked put sold for `$3.80` one week ago looks good too.
Shop is breaking its bear flag on daily chart. if it takes out these lows here could flush into the close for a quick trade. im using 9ema as my stop
Shopify - keep it on your watch list. Entry now would be too early . Still looks like it has more downside to play out. Look for a buy in the next month or so. Then watch it go. I am new to Wave theory, so if I am wrong in my analysis, please offer some feedback. Thx.
SHOP has been a big trender all year. Today there was a hit piece out on it. If it can break lows here it will also take out the 50sma on the daily and could flush into the close down close to 100. It is a tad extended intraday ideally it holds here for an hour or so and lets the 9ema catch up and build up a bit more base then breaks down.
SHOP opened higher than Fri close and is sitting right around yesterday's high of 93.3. If it closes > yest. open 92.22 (ideally > yest. high) it'll look like a clear bullish 1 White Soldier bouncing off long uptrend line & testing/establishing 94 as support. But since the white soldier isn't technically at support yet (so far, 94 still resistance), it may just be...
Looks like SHOP is rejecting off 94 resistance so if it closes <94, we may get that 91 retest earlier analysis indicated (which prompted me to close the Oct 90 calls for just small gain & miss the 94/95 test bec. i forgot to look at momentum indicators which i'm learning now...). If so, will be watching MACD, RSI & CCI closely for choosing entry for my first...
Looks like 91 support held, broke through 94 yesterday, testing it today and so far looks like it's holding. If closes > 94 today on to break/test 98 level...kicking myself for closing out my Oct. 90 calls for small gain - thought we'd get another <91 test and I could re-buy them but this just keeps climbing. If closes >94 today, I'll be buying Oct. 95 calls &...
SHOP closed yest. above 91 and opened today > 91 so I'm looking for a close > 91 to confirm this level as support. If we close above 91 today then def looks like it's heading to test/break through the 94 resistance level and establish that as support. Based on recent action it may reject off the 94 level today but I'm guessing we'll be crossing through that pretty...
Looks like SHOP's uptrend line held and we're resuming climb but it won't be clear until 91 level closes/holds as support. If we close < 91, I'm guessing we'll retest the uptrend line again where it intersects around 87.4 support. If we close > 91 (and then open and close > 91 tmrw), I think it'll keep going to test the 94 resistance level and perhaps establish 91...
Shopify American stock buy setups at monthly demand level at 46.18 #SHOP. Strong bullish impulses creating weekly and monthly demand levels to go long at. This is a long term buy setup, no supply levels to the left since it's making all time highs. Buying at monthly and weekly demand zones is the way to go.
So far, SHOP has tested lower support levels but uptrend line has held by close each time. Looks like it's poised for a bigger move either up or down given that wedge we're in now (which will be determined Monday July 10). Looks like a close above 86 keeps uptrend intact & depending on if it closes closer to the top of today's candle/wick vs. the bottom we'll know...