SHOP has been in a nice uptrend and recently has pulled back to 21 EMA. All the major EMAs are stacked positively. A bounce from any of these major Fibonacci support zones would be a good buying opportunity.
NYSE:SHOP is going back to the support line before jumping to the sky after an earning report
target is 930
the entry point is 1090
stop-loss 1130
good luck to every one
After breaking its 5+ month range on 12/16, SHOP appears to be taking a breather onto support at the range high of 1112 level. Volume tapering off after the holidays. Waiting for confirmation of a bounce. Break of the upper trendline on price and/or RSI.
SHOP Daily timeframe seems to be testing top of previous range which is a strong support
Volume dropped until last hour
Bullish divergence on hourly RSI
Bullish volume spike last hour of the day (highest hour volume of the day)
My target is previous resistance range
This Is Not Finacial Advise
Shop had a rough week last as it pulled back from the top of its channel. now its forming a bearish head an shoulders and the bottom of the channel. If pattern form our first target will be support at white line. if channel holds , would be a nice dip buy
stuck 900-1100 range for 7 months!! might be a good place to get longterm puts since we clearly cannot hold over 1100 without shorts attacking. a break under 900 will be ugly! goodluck to longs here but be very careful. consolidation like this can last for years.
The stock gained near 40% from its Nov low of 860 to a recent high of 1285, propelled by a 3D Squeeze that fired for 7 bars. Squeeze usually fires for 7 to 8 bars, so we are likely entering a consolidation phase with a probable retracement to $1000 or 50 MA.
It's Stoch/RSI has a good history of forecasting price trajectory and the last candle also hinted at a...
![SHOP: $SHOP | Shopify: Bullish Falling Wedge Breakout [Update]](https://s3.tradingview.com/w/WIWWtAK4_mid.png "$SHOP | Shopify: Bullish Falling Wedge Breakout [Update]")
