SHOP Breakout 6th testSHOP has been testing the 1110 range several times over the past several months. Looking for another test to breakout of that level back to the high of 1145. A breakdown below the moving averages would void this trade.
SHOP/N trade ideas
SHOP on watch Waiting on a pre earnings pop.
If it can build above this box it looks promising. Watching the broader market is key.
If the QQQ starts showing some weakness this could be hit quickly with profit taking.
The market rips this has a good chance of ripping.
SHOP ( DAILY) - Cup & Handle BreakoutSHOP ( DAILY)
Buy above high of 1086
Target of $300 ( height of cup)
Cup and handle formed as on 1st Sept 2020 till 12th Oct 2020
Broke handle today on 16th October 2020
RSI > 60
Taken support at 9 day EMA on 15th Oct 2020
SHOP higher towards earnings 1200$Simple moving average pattern - 2-3 weeks before earnings
Same trend each earnings.
Looks like a Shooting StarIs it reversing an uptrend? Check
Is it long relative to the preceding candles? Check
Does it have a long upper wick? Check(Not as big as I would like, but, still big enough for your mom)
Did it close lower than the previous close? Check
This is my analysis, I will enter at the 1:1 entry and if the left eye gets tagged tomorrow, I will enter there also. Stop at the top of the wick.
Good luck, this is just my analysis and is not financial advice.
SHOP LongHello Fellow Traders.
A month back I posted the falling wedge and SHOP has rallied back up and now its ready after a few rejections out of the Daily Supply Zone to push toward the 0.382 Fib level.
First level will be 1110. It will need to form a pattern above in order to push higher for a retest of all time highs and the top of the Supply zone.
I also believe it will run with $AMZN prime day it will be a nice sympathy play.
Please leave me any feedback you may have!
Twitter - @gxouls
Shopify Review1. Current resistance @ 1108
2. Aim @ 1200 within two weeks
3. V-shape reversing
4. Amazon's 'Prime Day' may pull the E-commerce sector
5. Google trying to combine Youtube with E-commerce, and their main partner is Shopify
6. Partnership with Pinterest, Walmart, Google
7. Market Value aim @ $200 billion in long-term
SHOP - waiting for the breakout? me 2 Friday session shows in point and figure charting an Ascending Triple Breakout with a Bullish Price Objective of 1189....AMEN:)
Can we c this breakout in our traditional charting?
SHOP Shopify breakout ? LongSHOP looks like it could be ready for another leg up. Smaller ascending triangle up around closing 1072... and potential downtrend break after hours. Watch the 1073 breakout area and up to 1100 as overhead resistance--1040's closest support. If rejected-- that's a play in itself but am hoping to see a breakout on this one.
Entering Wave 5 for SHOP -Possible huge run to new highsTony's Picks
I have recently started analyzing charts and have come across this interesting idea.
It looks like $SHOP is about to enter wave 5 via the black line on the daily chart. The blue line trend inside the black waves supports trendy behavior through the Elliot wave theory. The counter trend from the blue line may be over or ending soon. Then wave 5 will begin.
With eCommerce surging and $SHOP at the forefront, strong growth and solid holiday numbers could propel $SHOP to new heights.
Curious to thoughts and comments.
Thank you.
The bubble is gonna burst, Covid fear returningWith US fed saying they will be waiting for fiscal stimulus before providing anymore monetary stimulus. The tech bubble is gonna burst now and with the return of high Covid infections numbers, the fear is going to be coming into market imo
Not financial advice.
SHOPNice zone 2 to zone 1 breakout the other day with follow-through. Completely missed it (No position).
SHOPIFY - UP COMING MOVE - BUYSHOP - Trading on a positive breakout, I am expecting an up move from current price 903
Maintain stop loss around 870
potential upside 938 - 955
Follow the levels as mentioned , Refer the chart for detailed analysis.
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