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Shopify, Inc. Class AShopify, Inc. Class AShopify, Inc. Class A

Shopify, Inc. Class A

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SHOP trade ideas

SHOP: Short Term Correction Before We Hit $205 TargetObservations We are currently in the intermediate 3rd wave of the major 5th wave. Based on Elliott wave count, it appears that intermediate 3rd wave is complete which means we are due for a correction. Expecting wave 4 to be a small correction within 0.236 - 0.382 fib zone as wave 2 was a very significant correction to 0.786 fib. Target price for the intermediate 5th wave appears to be around $205.00 based on 1:1 ratio of the 1st wave. Side Note: I absolutely love SHOP. It is definitely a great company to be holding long term. I have been in since $32.00 but have sold late October year for about $147.00 to reinvested those gains into my MJ stocks :) Disclaimer For informational purposes only and not deemed as financial advice
TSX:SHOPLong
by modernpicasso
Possible Opportunity to short ShopifyShopify has had a great bull run and it's reached is peak, finishing with a large englufling candle, signaling a potential end to the bull run, followed by decreasing bull volume today. RSI is at overbought levels although it should be noted that it has been much higher before, so we are still waiting for the reversal signal. Look for it to challenge the $177 range on Monday and start falling along with an increase in bear volume. We are looking for a reversal in the MACD and a dip in RSI levels to signal our short opportunity.
TSX:SHOPShort
by PicoPNL