NYSE:SHOP
SHOP went from 1000 to 1250 in less than 10 days. Could we have foreseen the move? Possibly. SHOP consolidated more than 4 months in a long rectangle which is a continuation pattern or corrective. The tell for the breakout was a 3D Squeeze which also was clued by the tilting upwards of Stoch RSI. On the Chart, there are 1, 2, 3 numbered to point out the signs. I...
Santa rally to carry back to 1240 area seems possible - maybe higher
Our range play has turned into a full continuation phase to the upside. We couldn't have predicted this strong of a bounce it has even outperformed AMZN. I could list a series of "fundamental stories" for why it has had a great run but when you trade with a model you don't have any. As long as shop holds above its previous range state and the net up vs down volume...
Watch for a break of this consolidations. See previous post. Potential for massive move it it breaks. First targets equal extension. Make sure broader market is supporting a bull move. Additional Info: I am an intraday scalper and short term swing trader of stocks & Futures using options and equity. I focus on high volume momentum stocks in strong...
SHOPIFY INC Our share of this is a trend-level acceleration and a very high explosion Strong and large volume of large traders and buyers During the week's calm, the purchase was made
$SHOP has been ranging for a few months now. It has finally broken out and held its backtest.
The double top on the 4 hour.... since I've been watching SHOP > post COVID-19 never runs up big two days in a row. This WILL drop a little more. RSI overrrrr sold.
No chart analysis needed for such an overvalued stock. Pros for SHOP: high-growth sector, profitable, tech based, backed by big funding, decent branding. Cons for SHOP: EV ~56x revenue, limited capturable market, weak monetization scheme, low market share. I expect Shopify stock to crash spectacularly within 1-2 years, conditioned on one of two things...
SHOPIFY - SHOP - took full loss on Iron Butterfly ugh... i hate it when that happens, but .. it's one of those trades. You go into it knowing that it's a low probability trade. Would you have taken this trade? Comment below.
Good move to break previous resistance now a little retrace and up again?
Yesterday, breakout with high volume, the next target around 1328
SHOP is breaking out of trading range on high volume looks verry bullish