I have been asking a lot of small businesses lately who they use for their website and I get an alarming amount of them saying Shopify. I use WIX for my personal website, so I am not familiar with SHOP interface but from what I hear, it is really nice.
With that said, I hope nobody is buying this stock right now with it up 142% in 79 days. Holy BaJesus. It looks...
Looking for a break of the (B) to confirm Gartley for a move up to (D) to enter short. Add to the short on the blue trend line break, with PT 1 at first green line (.382) and PT 2 at the next green line (.618).
SHOP has been on a parabolic run for months. The stock recently spiked higher and then reversed those gains. And now holds the potential to form a "lower high", giving fresh short spec money a clear setup to attempt a tight-risk bear bet on a larger pullback.
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Feel free to post your thoughts and charts here in comments, I'd love to see it.
NYSE:SHOP
Weekly chart of SHOP. How much longer can it go straight up?
Regarding SHOP. It has quite the run for a Canadian company.
It looks like a Hyperwave to me.
If it is a Hyperwave then we can expect a retrace to the orange Phase 3 line.
The green box is a level of interest using Fibonacci Extensions and Fib Retracement tools.
Downtrend breached and a good support level at price: 1019.57 CAD $ with a good Buying volume, RSI looks above 50 Level, which is a good sign also for up movement.
