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SHOPIFY INCSHOPIFY INCSHOPIFY INC

SHOPIFY INC

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SHOP/N trade ideas

Classic Bullish Flag Pattern. Wait for pullback to finishGreetings, I'm bullish on SHOP based on the bullish flag pattern forming on the daily chart. In the short term, however, SHOP is bearish while it completes it's pullback. Daily (Bullish) 1. In interpret the decline in volume and price as a bullish pullback (bullish). 2. MACD crossover (bearish). 3. SHOP is between monthly and quarterly EMA (buy signal). 4. SHOP is below mean average of $1190 (buy signal). 5. Double Bottom Pattern formed Weekly (Bearish) 1. Bearish Engulfing Candle 2. Volume and Momentum Declining 3. Weekly Pivot is $907 4. 23.6 FIBO at $1056.50 may offer strong support, since it coincides with the quarterly EMA. Happy Trading! Disclaimer. My ideas are for informational purposes only. My ideas do not constitute solicitation, recommendation, endorsement, or offer to buy or sell any securities or other financial instruments. You should not construe any such information or other comments as legal, tax, investment, financial, or other advice. There are risks associated with investing in securities. Investing in stocks, bonds, exchange traded funds, mutual funds, options and money market funds involve risk of loss.  Loss of principal is possible. Please exercise your own due diligence.
NYSE:SHOPLong
by chiefwils0n
2
SHOP - Nice bounce- going to $1460If you saw my previous post "SHOP- The Big Picture" then you would see that SHOP has bounced at one of my trend lines higher than I expected. I have followed this stock and made a lot of money on it since the $200's. I really think after Friday and the bullish close that we are going to $1460 were there will be resistance. Can we break through the 52 Week High recorded recently? That will be a major test. If it does pass $1500 the next peak will sell off so be aware of that.... GL!
NYSE:SHOPLong
by sid72
Evening star pattern, up 25% just in February prior to earningsSHOP has been a beast for along time! It has runup 25% just in February, so be careful for earnings on Feb 17th. The past 3 days show a bearish evening star pattern (not 100% perfect). I calculated the implied move to be 6% or $90 dollars. Options - 1068 in $1500 weekly calls, over 1600 in $1200 weekly puts. If you know how to play iron condor, I think that is best earnings trade o capture premium. They beat last earnings and raised expectations , its going to be hard to repeat, imo. Have a great long wknd!
NYSE:SHOP
by hockeysniper
4
SHOP - sell on earnings and buy back!!!After this big run prior to earnings we may have a spike like 3 earnings ago, but there is no way we will be $1600 a share right now!!! I love this stock and it has profited well for me and many others over the past 2 years. Holly apes breath I cannot believe I bought this stock at $300 in march??.. They are the #1 ecommerce stock hands down. I posted a prior detailed long term chart last week which justifies this conclusion. Thank you for your interest. I HOPE my post's help you make money and have FUN !!! ♡ ♡ ♡ Have a Happy Great Valentines Day and Presidents Day!!! PS - WE NEED A WOMENS DAY!!! Like Europe!!
NYSE:SHOPLong
by sid72
1
SHOP - The big pictureShop is having a great run, but a pullback is in the near term whether after even a higher spike on earnings or prior to earnings . These are the long term trend lines where the bounce from a pullback has happened over the long haul. I feel that somewhere between 1250-1300 will be the next bounce. Someone posted that it will pullback over 50%????? ah NO WAY! Even in COVID the lowest percentage lost was 44%. The only way that will happen again is in a market crash. So this is the big picture..... GL!
NYSE:SHOPLong
by sid72
4
Shop updateJump the gun on the pullback with my last setup. I think my overall market sentiment bias that the Nasdaq would pullback affected that call. Anyways , shop broke through that (Weekly) resistance and the results were as expected albeit it received alot of help with that FB news but what came first the chicken or the egg? Targets are fib extensions since we're now trading at an ATH. Strong Support would now be that yellow resistance should any pull back occur in the near future
NYSE:SHOPLong
by ContraryTrader
2
SHOP Looking to add going into next weekI have been in this since Dec 16 when price broke the 6 month range. I took some profits on the initial trade as it hit my first target then added back to the position on Jan 9. See previous post below for details. SHOP had a beautiful weekly close last week and is at a new buy point going into earnings on Feb 17. The plan is to add to the position on a break of the high and trim going into 1340 if I get the move I want. This is a long term hold for me so I plan to hold a partial position through earnings. This is a good example of how I like to trade around a core position. 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 uptrends. My time frame is between 5minutes to 5 days on most trades. I scale into positions and scale out of positions as my targets are hit. I always trail my stops after T1 is hit to reduce risk and lock in gains. If my post is on a Weekly/Daily/240M chart the idea is a swing trade. If my post is on a 60M chart or lower the idea is a day trade. Day trades can turn into swing trades if the stock is strong. All trades should be supported by market direction. Treat my posts as trade ideas and not signals. Traders must trade using their own back tested trade plan and rules. Traders must plan risk first and profits second. Additional Additional Info: If you use options to trade high IV stocks it is crucial to wait for some consolidation or a pull back. If you buy an option when price is stretched you will find that even when the instrument trades in your direction you will lose money because you will have paid too much premium. Simple rule = BUY options when candles are SMALL and SELL options when candles are BIG.
NYSE:SHOPLong
by WadeYendall
4