Nice earnings gap pullback and breakout today
My count sees upside for this US stock. I have been conservative on my 5th wave targets but the 3rd wave only extended to the 1.41 Fib so there is a chance of a 5th wave extension. Somewhere above 50 is possible here in my opinion.
As reflected by the chart, Shopify's share price has steadily climbed throughout most of 2016.
Shopify's stock has steadily increased over the last three quarters.
I'm long the 20jan 45 calls of shopify, and already in profit. this stock seems to be a clean and clear breakout and possible profit target is 57 area. if you'd be long on the 01.06.17 (m/d/y) you should have put your stop loss around 44 area, and if you 'd still be holding your position it would be ok to move your stop to 45-46 area now.
Adding to my position. Looks like it's just over resistance. Agree?
$SHOP fighting like there is no tomorrow
Great company! strong resistance price around 40.60.
BUY $SHOP on the dip before it charges ahead again
SHOP is about to complete this retest gap in the top of a long term triangel pattern, if we see a strong break out and retest then buy the retest
SHOP is a relatively new public company, but it has traded in a rather wide range since its IPO last year. Like a lot of the market, it may be a little extended in the near term after rallying almost 70% from its February low, but near $70 looks like a good place.
Looking to resolve itself. Unusual buying today on this break over 26. Need over 26.50 for confirmation of breakout then PT 30