When (SHOP) Moves Investors should Listen
January 16, 2024, 07:10 am ET, BY Rick O.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for SHOP
- Buy SHOP slightly over 70.94 target 80.8 stop loss @ 70.74 Details
The technical summary data tells us to buy SHOP near 70.94 with an upside target of 80.8. This data also tells us to set a stop loss @ 70.74 to protect against excessive loss in case the stock begins to move against the trade. 70.94 is the first level of support below 80.42 , and by rule, any test of support is a buy signal. In this case, support 70.94 is being tested, a buy signal would exist.
- Short SHOP slightly under 80.8, target 70.94, stop loss @ 81.03 Details
The technical summary data is suggesting a short of SHOP as it gets near 80.8 with a downside target of 70.94. We should have a stop loss in place at 81.03though. 80.8 is the first level of resistance above 80.42, and by rule, any test of resistance is a short signal. In this case, if resistance 80.8 is being tested, a short signal would exist.
Swing Trading Plans for SHOP
- Buy SHOP slightly over 80.8, target 82.99, Stop Loss @ 80.57 Details
If 80.8 begins to break higher, the technical summary data tells us to buy SHOP just slightly over 80.8, with an upside target of 82.99. The data also tells us to set a stop loss @ 80.57 in case the stock turns against the trade. 80.8 is the first level of resistance above 80.42, and by rule, any break above resistance is a buy signal. In this case, 80.8, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short SHOP slightly near 80.8, target 76.69, Stop Loss @ 81.03. Details
The technical summary data is suggesting a short of SHOP if it tests 80.8 with a downside target of 76.69. We should have a stop loss in place at 81.03 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 80.8, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Day Trading Plans for SHOP
- Buy SHOP slightly over 80.8, target 81.83, Stop Loss @ 80.61 Details
If 80.8 begins to break higher, the technical summary data tells us to buy SHOP just slightly over 80.8, with an upside target of 81.83. The data also tells us to set a stop loss @ 80.61 in case the stock turns against the trade. 80.8 is the first level of resistance above 80.42, and by rule, any break above resistance is a buy signal. In this case, 80.8, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short SHOP slightly near 80.8, target 76.69, Stop Loss @ 80.99. Details
The technical summary data is suggesting a short of SHOP if it tests 80.8 with a downside target of 76.69. We should have a stop loss in place at 80.99 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 80.8, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Check the time stamp on this data. Updated AI-Generated Signals for Shopify Inc. Class A Subordinate (SHOP) available here: SHOP.
SHOP Ratings for January 16:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Strong |
Neutral |
Strong |
| P1 |
0 |
0 |
60.97 |
| P2 |
81.83 |
76.69 |
70.94 |
| P3 |
83.67 |
82.99 |
80.8 |
AI Generated Signals for SHOP
Blue = Current Price
Red= Resistance
Green = Support
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How do we know what is going on #behindthescenes of a company? According to Stock Traders Daily, a 20-year #financialindustry innovator, the best way to do this to to watch the price action in the stock. The Shopify Inc. Class A Subordinate (NASDAQ: SHOP) report below is a real world example. Included are trading plans for SHOP, but this report is static. If you want an update, or a different stock, please get one here Unlimited Real Time Reports.
Fundamental Charts for SHOP:
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