Learn to Evaluate Shopify Inc. Class A Subordinate ($SHOP) using the Charts
November 17, 2023, 07:15 am ET, BY Randall S.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for SHOP
- Buy SHOP slightly over 64.14 target 74.41 stop loss @ 63.95 Details
The technical summary data tells us to buy SHOP near 64.14 with an upside target of 74.41. This data also tells us to set a stop loss @ 63.95 to protect against excessive loss in case the stock begins to move against the trade. 64.14 is the first level of support below 67.55 , and by rule, any test of support is a buy signal. In this case, support 64.14 is being tested, a buy signal would exist.
- Short SHOP slightly under 74.41, target 64.14, stop loss @ 74.62 Details
The technical summary data is suggesting a short of SHOP as it gets near 74.41 with a downside target of 64.14. We should have a stop loss in place at 74.62though. 74.41 is the first level of resistance above 67.55, and by rule, any test of resistance is a short signal. In this case, if resistance 74.41 is being tested, a short signal would exist.
Swing Trading Plans for SHOP
- Buy SHOP slightly over 70.99, target 74.41, Stop Loss @ 70.78 Details
If 70.99 begins to break higher, the technical summary data tells us to buy SHOP just slightly over 70.99, with an upside target of 74.41. The data also tells us to set a stop loss @ 70.78 in case the stock turns against the trade. 70.99 is the first level of resistance above 67.55, and by rule, any break above resistance is a buy signal. In this case, 70.99, 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 70.99, target 65.15, Stop Loss @ 71.2. Details
The technical summary data is suggesting a short of SHOP if it tests 70.99 with a downside target of 65.15. We should have a stop loss in place at 71.2 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, 70.99, 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 68.05, target 70.32, Stop Loss @ 67.89 Details
If 68.05 begins to break higher, the technical summary data tells us to buy SHOP just slightly over 68.05, with an upside target of 70.32. The data also tells us to set a stop loss @ 67.89 in case the stock turns against the trade. 68.05 is the first level of resistance above 67.55, and by rule, any break above resistance is a buy signal. In this case, 68.05, 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 68.05, target 65.15, Stop Loss @ 68.21. Details
The technical summary data is suggesting a short of SHOP if it tests 68.05 with a downside target of 65.15. We should have a stop loss in place at 68.21 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, 68.05, 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 November 17:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Strong |
Strong |
Strong |
| P1 |
0 |
0 |
54.16 |
| P2 |
68.05 |
65.15 |
64.14 |
| P3 |
70.32 |
70.99 |
74.41 |
AI Generated Signals for SHOP
Blue = Current Price
Red= Resistance
Green = Support
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When #institutionalinvestors make decisions to buy and sell #stocks they normally want to keep it quiet. However, if we pay close attention we can see what is going on, and make good decisions.. The Shopify Inc. Class A Subordinate (NASDAQ: SHOP) report below can help you understand how to do this. The trading plans for SHOP, are updated in real time for subscribers, but this report is static. If you want an update, or a different report on a different stock, please get one here Unlimited Real Time Reports.
Fundamental Charts for SHOP:
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